Brookfield acquires controlling stake in Leap Green Energy – pv magazine India

Brookfield will make an initial equity investment of more than $200 million in Leap Green Energy through the subscription of new shares and the acquisition of shares from existing shareholders. This could inject an additional $350 million of additional equity capital to support Leap Green’s future growth in renewable energy solutions for the commercial and industrial sectors.

Brookfield announced today that it has entered into definitive agreements to acquire a majority controlling interest in Leap Green Energy, a Tamil Nadu-based provider of renewable energy solutions to commercial and industrial (C&I) customers.

Brookfield to initially invest more than $200 million in equity capital in Leap Green, By a combination of subscription for new shares and purchase of shares from existing shareholders. It has an option to inject an additional $350 million of additional equity capital to support Leap Green’s future growth.

Brookfield will work with existing Leap Green Energy shareholders to grow the business and expand the platform to more than 3GW over the next four to five years.

Brookfield’s investment will be made through Brookfield Global Transition Fund I (BGTF I). The BGTF I capital will fuel Leap Green’s growth ambitions in the fast-growing Indian sector. growing C&I segment.

“Tamil Nadu, with a total addressable, growing renewable C&I market of 20 GW, is a key target market for Leap Green. Combining Brookfield’s access to capital, supply, operational expertise, and Leap Green’s internal development, asset management, and customer service capabilities, the company is well-positioned to address C&I decarbonization goals,” Brookfield said.

Brookfield is one of the world’s largest investors in renewable energy, with approximately 33 GW of generating capacity and over 155 GW in development. Its assets, located in North and South America, Europe and Asia Pacific, span a diversified technology base of hydro, wind, utility-scale solar, distributed generation, storage and other renewable technologies. In India, Brookfield’s renewable energy and transformation portfolio includes over 25 GW of wind and solar assets in operation, construction and/or development on leading platforms.

Leap Green Energy has an existing base of 775 MW of wind and solar assets in operation and under construction. It has in-house development, O&M and account management teamsLeap Green is currently expanding its services in Tamil Nadu, Rajasthan and several other states.

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