SUSI Partners’ portfolio company Encore Renewable Energy (“Encore”) has secured a USD 389 million financing package from Brookfield’s infrastructure debt platform to advance its portfolio of community-scale solar PV and battery energy storage projects.

Encore is a U.S. developer and operator of community-scale solar PV and battery energy storage projects with a focus on the sustainable redevelopment of brownfield sites and agrivoltaics solutions. SUSI acquired a majority stake in the company on behalf of the SUSI Energy Transition Fund (“SETF”) in 2023 and has since accompanied Encore in its strategic transition into an independent power producer (“IPP”).

Encore has now secured a USD 389 million non-dilutive financing solution from Brookfield to construct ready-to-build projects and further expand and advance its development pipeline. The financing structure integrates construction-to-term debt and a tax equity bridge within a single debt facility, complemented by a preferred equity facility dedicated to tax equity financing. For Encore, the capital raise represents a major milestone in the build-out of its proprietary portfolio of energy transition infrastructure assets on its way to becoming a distributed generation IPP.

SETF – the firm’s evergreen equity fund – focuses on establishing and scaling up platforms which develop, construct, buy, and operate energy transition infrastructure assets in Europe and other key OECD markets. The Fund currently holds a well-diversified portfolio across a wider set of energy transition themes, including clean energy generation, energy efficiency, battery energy storage, customer energy solutions, and electric vehicle charging.

Read Encore’s full announcement HERE.