Brookfield buys majority stake in Leap Green Energy

The investment was made through Brookfield Global Transition Fund I (BGTF I), a $15 billion net-zero investment vehicle that was the largest of its kind in the world at the time of its announcement. In February this year, Brookfield closed the first $10 billion in the second round of BGTF, a portion of which it said was tied up in a solar development partnership in India.

In addition to the $200 million deal, Brookfield has the option to inject another $350 million to support Leap Green Energy’s growth.

Nawal Saini, Head of Renewables and Transformation, South Asia and the Middle East, Brookfield, said: “Our partnership provides an important opportunity to meet demand in the C&I segment and deliver outcomes where decarbonization and value creation are fully aligned. We remain committed to helping businesses reduce their carbon footprint and positively impact the environment.”

Brookfield is one of the largest asset owners in the global renewable energy industry. Last month, the company launched a €6.1 billion acquisition of French independent power producer (IPP) Neoen, and in May, it entered into a renewable energy offtake agreement with technology giant Microsoft. That agreement was worth more than $10 billion and represents more than 10 GW of renewable energy offtake agreements.