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Energy - JULY 23, 2021

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Brookfield announces $600m IPO to invest in renewables

by Kali Persall

Brookfield Asset Management has priced an IPO of $600 million senior notes, which it will use to help fund renewable-energy projects.

Brookfield is planning to allocate an amount equal to the net proceeds from the sale of the notes, which are due in 2032, to finance or refinance recently completed and future energy-efficient green buildings and renewable-energy projects.

The net proceeds from the sale of the 2032 notes will be temporarily used for general corporate purposes.

Brookfield is one of the world's largest investors in renewable power, with some 21,000 megawatts of generating capacity, according to the firm’s website. Brookfield’s assets, located in North and South America, Europe, India and China, comprise a diverse technology base of hydro, wind, utility-scale solar, distributed generation, storage and other renewable technologies.

 

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