Brookfield to invest around 550 million USD in TN-based Leap Green Energy

The investment includes Brookfield providing an equity investment of over 200 million USD in Leap Green, by subscribing new shares and also acquiring shares from current shareholders.
Brookfield logo
Brookfield logo

MUMBAI: The Canadian investor Brookfield, the largest institutional investor in the domestic realty space, is looking at investing up to $550 million in Leap Green Energy, a Tamil Nadu-based firm that provides clean energy solutions to commercial and industrial customers.

In a statement Thursday, Brookfield said it will work alongside the existing shareholders of the company to grow the platform to more than 3 GW over the next four to five years. Leap’s current asset base is around 775 MW.

The staggered investment includes Brookfield providing an upfront equity investment of over $200 million in Leap Green, by subscribing to new shares and also acquiring shares from current shareholders. Brookfield also has the option to infuse an additional $350 million in equity capital into the firm to support its growth.

Brookfield said the investment will be made through the Brookfield Global Transition Fund I, which focuses on investments that accelerate global transition to a net-zero carbon economy while delivering strong risk-adjusted returns to investors.

“Our partnership provides an important opportunity to meet the demand in the commercial and industrial segment and deliver outcomes where decarbonisation and value creation are fully aligned. We remain committed to helping corporates in reducing their carbon footprint and positively impacting the environment,” Nawal Saini, the managing director and head of renewable power and transition for South Asia and the Middle East at Brookfield, said.

Brookfield is one of the world’s largest investors in renewable power, with around 33 GW of generation capacity and over 155 GW under development. Its assets are located in the Americas, Europe, and Asia Pacific and comprise hydro, wind, utility-scale solar, distributed generation, storage, and other renewable technologies.

Brookfield India’s renewable power and transition portfolio comprises over 25 GW of wind and solar assets in operation, construction and development.

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