Brookfield will initially make investments greater than $200 million in Leap Green Energy by subscribing to new shares and buying shares from current shareholders.
From pv journal India
Brookfield mentioned it has signed definitive agreements to amass a majority controlling stake in Leap Green Energy, an Indian renewable power firm specializing in the business and industrial (C&I) section.
Brookfield will initially make investments greater than $200 million in Leap Green by subscribing to new shares and buying shares from current shareholders. It has an possibility so as to add one other $350 million in fairness to help Leap Green’s development.
Brookfield will work with current shareholders of Leap Green Energy to develop the corporate’s capabilities and broaden the platform to greater than 3 GW over the subsequent 4 to 5 years.
Brookfield’s funding comes from the Brookfield Global Transition Fund I (BGTF I). BGTF I capital will gasoline Leap Green’s development ambitions within the quickly increasing C&I section in India.
“Tamil Nadu, with a complete addressable, rising renewable C&I market of 20 GW, is a crucial goal marketplace for Leap Green,” mentioned Brookfield. “By combining Brookfield’s entry to capital, procurement, operations experience, and Leap Green’s in-house growth, asset administration and customer support capabilities, the enterprise is effectively positioned to reply the decarbonization targets of the C&I section.”
Brookfield has about 33 GW of producing capability and a growth pipeline of greater than 155 GW. Its property span North and South America, Europe, and Asia Pacific, masking hydro, wind, utility-scale photo voltaic, distributed era, storage, and different renewable applied sciences. In India, its renewables portfolio contains 25 GW of wind and photo voltaic property in operation, building, and growth.
Leap Green Energy has a wind and photo voltaic asset base of 775 MW working and below building. It has in-house growth, O&M, and buyer administration groups and is presently increasing its companies to Tamil Nadu, Rajasthan, and different Indian states.
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