Brookfield Asset Management’s infrastructure debt platform has provided Pine Gate Renewables with a $300m (€277m) loan to expand its US project pipeline.
Pine Gate Renewables is involved in the development and operation of renewable energy projects throughout the US. The company’s activities include a development pipeline of more than 30GW, project financing and capital investment totaling around $10bn, and the operation of over 2GW of solar and storage assets.
Pine Gate Renewables said the Brookfield financing “will be used to accelerate a geographically diverse set of assets in development, construction and operations”.
Meghan Comiskey, EVP of structured finance at Pine Gate Renewables, said: “Collaboration is a core value at Pine Gate and one of the driving forces behind delivering sustainability at scale.
“This new partnership with Brookfield exemplifies our superior ability to attract and deploy capital from top-tier organisations.”
Andrew Ehrlickman, SVP at Brookfield said: “We are pleased to provide Pine Gate Renewables with this financing and support the continued growth of their business.
“Our infrastructure debt platform has significant experience customising flexible structure for quality renewables platforms and we continue to see significant demand for this type of capital.”
Earlier this month, Brookfield raised $1bn for Brookfield Infrastructure Structured Solutions Fund (BISS), its debut middle-market infrastructure fund.
The manager said BISS, which seeks to invest both structured and common equity, had at the time invested in US renewable energy developer Origis Energy and in-building wireless infrastructure platform Strategic Venue Partners.
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