(You can now subscribe to our(You can now subscribe to our Economic Times WhatsApp channelMumbai: The Canadian fund Brookfield has made an equity investment in Leap Green Energy , a renewables platform based in Tamil Nadu and focused on providing clean energy solutions to commercial and industrial (C&I) customers, stated a press release.Brookfield and Leap Green recently entered into definitive strategic investment agreements pursuant to which Brookfield has acquired a majority controlling stake in the Company.Brookfield has provided an upfront commitment to make an equity investment of over $200 million in Leap Green, through a combination of subscription of new shares and acquisition of shares from current shareholders.
Additionally, Brookfield has an option to infuse further $350 million of incremental equity capital to support the future growth of the business, it said.Brookfield shall work alongside the Company’s existing shareholders to enhance the Company’s capabilities and grow the platform to in excess of 3 GW over the next four to five years, it said.Brookfield’s investment will be made through the Brookfield Global Transition Fund I (BGTF I).Tamil Nadu, with a total addressable, growing renewable C&I market of 20 GW, is a key target market for Leap Green.Nawal Saini, Managing Director, Head of Renewable Power & Transition, South Asia and the Middle East, Brookfield said, “We are pleased to partner with Leap Green and look forward to supporting them in their growth ambitions.
Our partnership provides an important opportunity to meet the demand in the C&I segment and deliver outcomes where decarbonization and value creation are in total alignment.”Rajeev Karthikeyan, Founder and MD of Leap Green, and Dev Anand Vijayan Founder and CEO of Leap Green, commented, “We are delighted to partner with Brookfield, a global leader in the energy transition space, to combine their strengths with our own capabilities and scale Leap Green to a multi billion-dollar renewable and energy transition platform, while retaining a focus on our home market of Tamil Nadu.”Brookfield is one of the world’s largest investors in renewable power, with approximately 33 GW of generating capacity and a development pipeline of over 155 GW.
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Mumbai: The Canadian fund Brookfield has made an equity investment in Leap Green Energy , a renewables platform based in Tamil Nadu and focused on providing clean energy solutions to commercial and industrial (C&I) customers, stated a press release.Brookfield and Leap Green recently entered into definitive strategic investment agreements pursuant to which Brookfield has acquired a majority controlling stake in the Company.Brookfield has provided an upfront commitment to make an equity investment of over $200 million in Leap Green, through a combination of subscription of new shares and acquisition of shares from current shareholders. Additionally, Brookfield has an option to infuse further $350 million of incremental equity capital to support the future growth of the business, it said.Brookfield shall work alongside the Company’s existing shareholders to enhance the Company’s capabilities and grow the platform to in excess of 3 GW over the next four to five years, it said.Brookfield’s investment will be made through the Brookfield Global Transition Fund I (BGTF I).Tamil Nadu, with a total addressable, growing renewable C&I market of 20 GW, is a key target market for Leap Green.Nawal Saini, Managing Director, Head of Renewable Power & Transition, South Asia and the Middle East, Brookfield said, “We are pleased to partner with Leap Green and look forward to supporting them in their growth ambitions. Our partnership provides an important opportunity to meet the demand in the C&I segment and deliver outcomes where decarbonization and value creation are in total alignment.”Rajeev Karthikeyan, Founder and MD of Leap Green, and Dev Anand Vijayan Founder and CEO of Leap Green, commented, “We are delighted to partner with Brookfield, a global leader in the energy transition space, to combine their strengths with our own capabilities and scale Leap Green to a multi billion-dollar renewable and energy transition platform, while retaining a focus on our home market of Tamil Nadu.”Brookfield is one of the world’s largest investors in renewable power, with approximately 33 GW of generating capacity and a development pipeline of over 155 GW.
