Encore Renewable Energy, a Burlington-based solar company, has successfully obtained $389 million in financing from Canadian investment giant Brookfield Renewable Partners. This major investment will be directed towards the implementation of solar arrays and battery storage in Burlington, Vermont.
The funding is aimed at enhancing Encore’s growth in the renewable energy sector, facilitating the installation of numerous solar projects throughout the region. Encore Renewable Energy CEO Bill Moore expressed enthusiasm about the partnership, stating, “This investment underscores our commitment to advancing clean energy solutions that meet the growing demand for sustainable power.”
The funding will not only support solar projects but will also play a critical role in addressing Vermont’s energy needs through sustainable practices. Encore aims to leverage this backing to increase their operational capacity and develop more eco-friendly energy solutions.
Brookfield Renewable Partners, well-known for its investments in renewable energy, is confident in the future potential of Encore Renewable Energy. According to Brookfield’s representative, “Our investment in Encore reflects our belief in the company’s vision and their capacity to lead the transition towards a renewable energy future.”
The collaboration positions Encore Renewable Energy at the forefront of Vermont’s efforts to adopt cleaner energy sources, while also providing substantial economic growth opportunities in the region. The company looks forward to expanding its services and contributing to a more sustainable environment in Vermont as a result of this substantial financial support.
