Brookfield, GLP Establish Partnership to Pursue Rooftop Solar Opportunities in China

Singapore-headquartered GLP, a leading global provider of modern logistics and industrial facilities and technology-led solutions, and Toronto-headquartered Brookfield Asset Management Inc. have formed a 50:50 joint venture dedicated to building a leading platform for distributed solar energy on logistics and commercial rooftops in China. 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 one-gigawatt development pipeline, equivalent to the annual power consumption of approximately 750,000 households. The partnership will leverage GLP's growing footprint of approximately 33 million square metres of logistics facilities in China and Brookfield's extensive expertise as a leading global owner, operator and developer of renewable power assets. 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.

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