06:47:05 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 11,982,568
Close 2017-03-07 C$ 23.15
Market Cap C$ 277,396,449
Recent Sedar Documents

Globe says Brookfield adds renewable-energy assets

2017-03-08 08:31 ET - In the News

The Globe and Mail reports in its Wednesday edition that Brookfield Asset Management is increasing its stake in alternative energy, paying $1.4-billion (U.S.) for two renewable-energy companies. The Globe's Jacqueline Nelson writes that the two -- TerraForm Power and TerraForm Global -- are assets previously held by solar company SunEdison Inc., which is in the process of restructuring. Brookfield's deals to invest in the solar and wind operators come as Canadian institutional investors look to buy renewable-power assets. As part of the transaction for TerraForm Power, Brookfield Renewable Partners LP plans to commit about $500-million, and could help the TerraForm companies source new projects. "We intend to be the largest shareholder from the public-equity class, and show the market that, really, our invested capital is alongside theirs and it's less about fees and our sponsorship structure, and much more about having capital at risk," said Sachin Shah, senior managing partner at Brookfield, in an investor call explaining plans to first stabilize and expand TerraForm Power. TerraForm Global has more than 40 energy projects across emerging markets such as Brazil, South Africa and China.

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