European Commission approves Polenergia acquisition by Brookfield, Mansa

The European Commission has approved Brookfield Asset Management Inc. and Mansa Investments Sp. z o.o. to acquire publicly traded Polish wind and solar energy developer Polenergia SA.

Under the deal, Brookfield Renewable Partners LP will acquire "a little bit north of 25% of the entirety of the investment in Polenergia," Brookfield Renewable Partners CEO Connor Teskey said on a Nov. 4 earnings call, in partnership with Polenergia's current majority shareholder, Mansa Investments. Additionally, Brookfield has committed €150 million to build out Polenergia's existing portfolio of onshore wind and solar projects.

Polenergia also has an existing offshore wind development venture with Norwegian energy major Equinor ASA.