Brookfield buys majority stake in Indian developer Leap Green Energy
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Canadian asset owner Brookfield has bought a majority stake in Indian dazzling energy firm Leap Green Energy in a US$200 million equity investment.
The investment will enhance plans to create bigger Leap Green’s working skill to 3GW. Key to this opinion is the Indian notify of Tamil Nadu, the keep Leap Green acknowledged it plans to create bigger into the roughly 20GW company & industrial (C&I) renewables market.
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The investment was once conducted during the Brookfield World Transition Fund I (BGTF I), a US$15 billion salvage zero investment car which, on the time of its announcement, was once the supreme such fund on the earth. In February this year, Brookfield closed the first US$10 billion within the second spherical of the BGTF, half of which it acknowledged was once tied up in a photo voltaic construction partnership in India.
As properly as to the US$200 million deal, Brookfield has the selection to “infuse” a extra US$350 million incrementally to spice up the growth of Leap Green Energy.
Nawal Saini, head of renewable energy & transition, South Asia and the Middle East at Brookfield acknowledged: “Our partnership presents a compulsory opportunity to fulfill the ask within the C&I segment and bring outcomes the keep decarbonisation and price creation are in complete alignment. We dwell dedicated to helping corporates in cutting again their carbon footprint and indubitably impacting the ambiance.”
Brookfield is among the supreme asset house owners within the worldwide renewable vitality industries. Last month, the firm launched its €6.1 billion acquisition of French neutral energy producer (IPP) Neoen, and in Would possibly perhaps, it launched a renewable vitality offtake settlement with tech enormous Microsoft. This deal was once price over US$10 billion and corresponds to over 10GW of renewable vitality offtake agreements.
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