Brookfield has announced an equity investment in Leap Green Energy, a renewable energy platform based in Tamil Nadu, focused on providing clean energy solutions to commercial and industrial (C&I) customers. Through definitive strategic investment agreements, Brookfield has acquired a majority controlling stake in Leap Green. The initial investment exceeds US$200 million, comprising both new share subscriptions and share acquisitions from current shareholders. Additionally, Brookfield retains the option to infuse an extra US$350 million to support future growth, aiming to expand the platform to over 3 GW within the next four to five years.
This investment will be made via the Brookfield Global Transition Fund I (BGTF I), which targets investments that propel the global transition to a net-zero carbon economy while delivering strong risk-adjusted returns. BGTF I’s capital will bolster Leap Green’s growth in India’s burgeoning C&I renewable energy market. Tamil Nadu, with a rapidly growing renewable C&I market of approximately 20 GW, is a primary target for Leap Green. Leveraging Brookfield’s capital access, procurement, and operational expertise, alongside Leap Green’s development, asset management, and customer servicing capabilities, the partnership is well-positioned to meet the decarbonization targets of the C&I segment.
Nawal Saini, Managing Director and Head of Renewable Power & Transition, South Asia and the Middle East at Brookfield, expressed excitement about the partnership with Leap Green. Saini highlighted the opportunity to meet C&I segment demands and deliver aligned outcomes in decarbonization and value creation, reaffirming Brookfield’s commitment to aiding corporations in reducing their carbon footprint and positively impacting the environment.
Rajeev Karthikeyan, Founder and MD of Leap Green, and Dev Anand Vijayan, Founder and CEO of Leap Green, expressed their enthusiasm about the partnership with Brookfield. They noted the potential to combine Brookfield’s strengths with Leap Green’s capabilities to scale into a multibillion-dollar renewable and energy transition platform while maintaining a focus on their home market in Tamil Nadu.
Brookfield is one of the world’s largest investors in renewable power, with around 33 GW of generating capacity and a development pipeline exceeding 155 GW. Their assets, located across North and South America, Europe, and Asia Pacific, include a diverse range of technologies such as hydro, wind, utility-scale solar, distributed generation, storage, and other renewable technologies. In India, Brookfield’s renewable power and transition portfolio encompasses over 25 GW of wind and solar assets in various stages of operation, construction, and development across leading platforms.
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