Brookfield will initially invest more than $200 million in Leap Green Energy by subscribing for new shares and acquiring shares from current shareholders.
Brookfield said it has signed definitive agreements to acquire a majority stake in Leap Green Energy, an Indian renewable energy company focused on the commercial and industrial (C&I) segment.
Brookfield will initially invest more than $200 million in Leap Green by subscribing for new shares and acquiring shares from current shareholders. It has the option to add another $350 million in equity to support Leap Green’s growth.
Brookfield will work with existing Leap Green Energy shareholders to enhance the company’s capabilities and expand the platform to more than 3 GW over the next four to five years.
Brookfield’s investment comes through the Brookfield Global Transition Fund I (BGTF I). BGTF I’s capital will boost Leap Green’s growth ambitions in India’s fast-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,” Brookfield said. “By combining Brookfield’s access to capital, sourcing, operational expertise and Leap Green’s internal development, asset management and customer service capabilities, the company is well positioned to meet the country’s decarbonization goals C&I segment.”
Brookfield has approximately 33 GW of generation capacity and a development pipeline of more than 155 GW. Its assets span the Americas, Europe and Asia Pacific and include hydropower, wind, utility-scale solar, distributed generation, storage and other renewable technologies. In India, the renewable energy portfolio includes 25 GW of wind and solar energy in operation, construction and development.
Leap Green Energy has a wind and solar energy base of 775 MW in operation and under construction. It has in-house development, O&M and client management teams and is currently expanding its services in Tamil Nadu, Rajasthan and other Indian states.
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