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Deals & Dealmakers

Brookfield brings energy biz to 200 Liberty

Brookfield has moved the renewable energy company it bought last year into its office property at 200 Liberty Street.

TerraForm Power owns and operates wind and solar assets around the globe, including 176 MW in New York State. The company said the relocation of its headquarters from Bethesda, Maryland, to New York City brought nearly 100 new jobs to the city.

“We are very excited about our new headquarters at 200 Liberty Street in New York City,” said John Stinebaugh, Chief Executive Officer of TerraForm Power. “Given its positive business climate, deep pool of skilled workers, and supportive policy regime, we believe New York is the ideal launching pad for the continued growth of our renewable power generation platform throughout North America.”

Brookfield subsidiary, Brookfield Renewable Partners, together with its institutional partners, acquired TerraForm Global Inc. for $750 million last year. At the time, the company said the deal would expand its presence in Brazil and provide a platform for further growth in India and China’s attractive, high-growth renewables markets.

In a press release issued this week, TerraForm reported it signed a 10-year lease is for 21,000 s/f of office space at 200 Liberty and moved in this summer.

The LEED Gold certified property is the southernmost tower of the Cesar Pelli designed Brookfield Place, home to luxury retail, dining, public space and amenities. The 40-story building is home to tenants including Santander Bank, Associated Press, Cadwalader Wickersham & Taft and Dow Jones

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