GLP, a global provider of logistics facilities based in Singapore, and Brookfield Asset Management established a 50-50 joint venture to develop and operate solar power capacity on the rooftops of logistic and commercial facilities in China.
A joint GLP-Brookfield news release Wednesday said the partnership will aim to become the largest provider of rooftop solar power in China, with plans to develop capacity of 300 megawatts in three years and a "broader 1 gigawatt development pipeline," sufficient to power 750,000 households annually.
The news release didn't offer details regarding China's current leader in rooftop solar power. Financial terms of the deal likewise weren't disclosed.
Ambika Goel, a GLP spokeswoman, or Claire Holland, a Brookfield spokeswoman, couldn't be reached for additional information.
The partnership "will leverage GLP's growing footprint of approximately 33 million square meters of logistics facilities in China and Brookfield's extensive expertise as a leading global owner, operator and developer of renewable power assets," according to the release.
In addition, the joint venture will pursue development opportunities on "third party-owned rooftops" in China, the release said.