GLP and Brookfield to pursue rooftop solar opportunities in China
Logistics solutions provider GLP and Brookfield Asset Management have joined forces to pursue rooftop solar opportunities in China.
The companies have formed a 50:50 joint venture to build China’s largest platform for distributed solar energy on logistics and commercial rooftops.
The joint venture, by affiliates of GLP and Brookfield, intends to install 300 megawatts of rooftop solar projects over the next three years, with a broader 1-gigawatt development pipeline, which is equivalent to the annual power consumption of around 750,000 households.
The partners expect to pursue development opportunities on third-party-owned rooftops in the country and may expand into other areas of co-operation in the future.
Ming Mei, the co-founder and CEO of GLP, said: “This new partnership with Brookfield will allow us to leverage each other’s strengths to further capitalise on GLP’s high-quality assets.
“Investing in infrastructure beyond GLP’s logistics platform is part of our strategy to develop an ecosystem that harnesses technology to deliver better outcomes for our customers and communities.”
Bruce Flatt, the CEO of Brookfield, said: “This partnership represents an attractive opportunity to expand our footprint in China’s rapidly growing renewables market, with a strong local partner in GLP.”