Clean energy developer Encore Renewable Energy has secured $389 million in loans and tax-equity financing from Brookfield Asset Management Ltd. to expand its portfolio of community-scale solar and battery storage projects across multiple US states.
The investment, channelled through Brookfield’s infrastructure debt platform, is expected to support 25 renewable energy projects in Vermont, New Hampshire, Maine, Illinois, and New York, according to Blake Sturcke, co-chief executive of Encor. The funding will enable Encore to advance its transition into an independent power producer that owns and operates clean energy assets.
The financing deal, announced on Wednesday, follows the completion of Encore’s first two solar farms in Maine last month. The company aims to expand its renewable energy portfolio significantly in the coming years.
“This financing is going to help us drive toward putting over a half-gigawatt of assets under our balance sheet over the next several years,” Sturcke said.
The agreement marks a significant step in Encore’s growth strategy, reinforcing its position in the distributed renewable energy market while supporting the broader transition to clean power and grid resilience in the US.
