Brookfield Acquires Majority Stake in Leap Green Energy

Canadian asset management firm Brookfield announced acquiring a majority stake in Tamil Nadu-based renewable energy company Leap Green Energy with an initial investment of over USD 200 million. Brookfield has the option to invest an additional USD 350 million. This strategic partnership aims to enhance Leap Green's capabilities and meet decarbonization targets.

Canadian asset management firm Brookfield on Thursday announced the acquisition of a majority stake in Tamil Nadu-based renewable energy company Leap Green Energy with an upfront investment of over USD 200 million and a future investment option of USD 350 million.

According to a statement, Brookfield and Leap Green recently entered into strategic investment agreements, securing Brookfield's majority controlling stake through a mix of new shares and shares from existing shareholders. The specific stake percentage remains undisclosed.

Brookfield is committed to driving Leap Green's growth to over 3 GW in the next four to five years, leveraging its global expertise. This investment aligns with Brookfield's goal to support the global transition to a net-zero carbon economy while ensuring strong returns for investors.

(With inputs from agencies.)