Canadian investment firm Brookfield has finalized a landmark deal to acquire a controlling stake in Leap Green Energy for a substantial $550 million.
This strategic investment marks Brookfield’s entry into the burgeoning renewable energy market in Tamil Nadu, underscoring its commitment to bolstering clean energy solutions for commercial and industrial (C&I) customers across the region. Brookfield will inject over $200 million through a combination of subscribing to new shares and acquiring existing shares from Leap Green’s current stakeholders. Additionally, Brookfield retains the option to further infuse $350 million in equity capital, aimed at supporting Leap Green’s ambitious growth trajectory over the next four to five years. Leap Green Energy, based in Tamil Nadu, has strategically positioned itself to capitalize on the state’s expanding renewable C&I market, which currently stands at a significant 20 GW. The partnership with Brookfield is expected to enhance Leap Green’s operational capabilities and propel its renewable energy capacity to exceed 3 GW in the coming years.
Brookfield, officials expressed optimism, stating, “Our partnership with Leap Green aligns perfectly with our strategic goals in the energy transition space. Together, we aim to meet the increasing demand in the C&I segment while driving decarbonization efforts.” Officials of Leap Green echoed this sentiment, highlighting the transformative potential of the partnership with Brookfield. “We are excited to join forces with Brookfield, a global leader in energy transition, to scale Leap Green into a multi-billion-dollar platform for renewable energy and energy transition solutions,” they affirmed. Brookfield, renowned as one of the world’s largest investors in renewable power, currently manages approximately 33 GW of generating capacity globally, with an expansive development pipeline exceeding 155 GW. This strategic acquisition not only reinforces Brookfield’s foothold in India’s renewable energy landscape but also sets a precedent for future collaborations aimed at accelerating sustainable energy initiatives in the region.
