Canadian investor Brookfield has announced plans to invest up to $550 million in Leap Green Energy, an Indian company based in Tamil Nadu. The company specialises in clean energy solutions for commercial and industrial (C&I) customers.
Brookfield will initially invest over $200 million through a combination of new shares subscriptions and acquiring shares from existing shareholders. Additionally, Brookfield holds an option to invest an additional $350 million to support the company’s future growth.
Brookfield aims to work with Leap Green’s existing shareholders to expand the platform beyond 3 GW in the next four to five years. Currently, Leap Green’s asset base is around 775 MW. This investment will be made through the Brookfield Global Transition Fund I (BGTF I), which targets investments that accelerate the global transition to a net-zero carbon economy while offering strong risk-adjusted returns to investors.
“Our partnership provides an important opportunity to meet the demand in the C&I segment and deliver outcomes where decarbonisation and value creation are in total alignment. We remain committed to helping corporates in reducing their carbon footprint and positively impacting the environment,” Nawal Saini, managing director and head of renewable power and transition for South Asia and the Middle East at Brookfield, said.