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Brookfield, GLP establish JV to develop 300 MW of rooftop solar in China


Brookfield, GLP establish JV to develop 300 MW of rooftop solar in China

Canadian asset management firm Brookfield and Chinese industrial logistics provider GLP will install C&I rooftop solar arrays across China under a new joint venture, eventually building out a 1 GW portfolio.

A new joint venture (JV) between Brookfield Asset Management – a Canadian alternative asset manager that operates vast renewable energy portfolios globally – and GLP – a China-headquartered industrial logistics specialist – has been created to develop 300 MW of commercial and industrial (C&I) rooftop solar in China over the next three years.

Both entities will own a 50% share in the JV, which intends to build out a 1 GW portfolio of C&I rooftop solar PV in China over the next few years. Currently, GLP operates 33 million square meters of logistics in China, and the hope is that Brookfield’s experience as a global owner and operator of renewable energy projects can make the JV a success.

In Japan, GLP occupies a leading position in the rooftop solar space, and the company is also poised to ramp up its presence in Europe, Brazil and the U.S. over the coming years, a press release said.

For Brookfield, the venture represents a bold step into China’s burgeoning rooftop solar market, which has so far played a distant second in shaping the nation’s PV footprint.

Brookfield’s flagship moves in solar thus far include the acquisition of former SunEdison yieldco TerraForm Global back in December last year.

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