Milbank Advises Lenders on Brookfield’s up to $5B Strategic Partnership with Bloom Energy

Milbank LLP advised the global lenders in connection with Brookfield Asset Management’s up to $5 billion strategic partnership with Bloom Energy to implement a reimagined future for AI infrastructure. This partnership marks the first phase of a joint vision to provide advanced fuel cell technology solutions for AI factories capable of meeting the growing compute and power demands of artificial intelligence.

At the center of the new partnership, Brookfield will invest up to $5 billion to deploy Bloom’s technology. The two companies are actively collaborating on the design and delivery of AI factories globally. This partnership will form Brookfield’s first investment in its dedicated AI Infrastructure strategy focused on investing in large AI factories, power solutions, compute infrastructure and strategic capital partnerships. The strategy builds on Brookfield’s proven track record of over $100 billion invested in digital infrastructure globally.

“We’re proud to support our clients in advancing solutions for the capital needed for the technology that will both form and fortify the backbone of the AI economy while setting new standards for resilient and sustainable power generation at scale providing the heightened degree of responsiveness needed for AI infrastructure,” said Roland Estevez, partner in Milbank’s Global Project, Energy and Infrastructure Finance Group.

Katie Hicks, partner in the firm’s Infrastructure Finance Group, added: “The financing structure behind this partnership demonstrates the growing sophistication of capital deployment in the AI and energy sectors. It also showcases Milbank’s cross-Atlantic financing expertise as we advise on transformative investments at a global scale.”

The Milbank team was led by Global Project, Energy and Infrastructure Finance partner Roland Estevez and Infrastructure Finance partner Katie Hicks with partners Jonathan Toffolo and Sean O’Neill. The team also included Infrastructure Finance associates Anavi Rehan and Katharine Ward; Global Project, Energy and Infrastructure Finance special counsel Leah Chacón and Jenna Darler and associates Alex Brightman and Artem Gorodilov; and Tax partner Drew Batkin.