Brookfield signs MoU to explore local renewable components
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The news: Brookfield Asset Management has signed a second memorandum of understanding to explore manufacturing renewable energy components in Australia, this time with Envision Group.
The numbers: As part of its proposed acquisition of Origin and its Energy Markets division, Brookfield, its partners and institutional investors GIC and Temasek would plan to invest $20-$30 billion over the next 10 years in Origin's energy transition.
The context: The majority of renewable energy components used in Australian infrastructure are imported. In its bid to secure supplies of clean energy components, Brookfield earlier signed an MoU with India's Reliance Industries for the manufacture of wind turbine parts and solar PV panels.
Envision is one of the world's largest wind turbine producers. It also specialises in energy storage and power-to-x conversion technologies and is a long-term global partner of Brookfield.
The source: Brookfield Asset Management
