Brookfield acquires majority stake in Leap Green Energy

Brookfield has agreed to acquire a controlling interest in Leap Green Energy, a Tamil Nadu, India-based renewable energy platform that provides clean energy solutions to commercial and industrial (C&I) customers.

The global alternative asset manager based in Toronto, Canada is investing more than US$200 million in Leap Green through a combination of a subscription for new shares and the purchase of shares from existing shareholders. In addition, Brookfield has the option to inject an additional US$350 million of additional equity capital to support the company’s future growth.

Brookfield will work with the company’s existing shareholders to expand its capacity and grow the platform to more than 3 gigawatts over the next four to five years.

The investment, made through Brookfield Global Transition Fund I (BGTF I), is consistent with the asset manager’s strategy to focus on investments that accelerate the global transformation to a net-zero economy while providing investors with strong risk-adjusted returns.

Brookfield’s capital is intended to fuel the platform’s growth ambitions in the fast-growing C&I segment in India.

Tamil Nadu, with a growing renewable C&I market of around 20 GW, is a key market for Leap Green. Combining Brookfield’s access to capital, purchasing and operational expertise with Leap Green’s in-house development, asset management and customer service capabilities, the company is well-positioned to meet C&I decarbonization goals, the companies say.

Brookfield is one of the largest renewable energy investors in the world, with generating capacity of approximately 33 GW and expansion plans of more than 155 GW.

The company’s assets, located in North and South America, Europe and the Asia-Pacific region, span a diversified technology base that includes hydropower, wind, utility-scale solar, distributed generation, storage and other renewable technologies.

In India, Brookfield’s renewables portfolio includes over 25 GW of wind and solar assets in operation, construction and development across leading platforms.