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Brookfield to invest $845 million in its second JV with Axis Energy Ventures

Livemint

Livemint · 2y ago

Brookfield to invest $845 million in its second JV with Axis Energy Ventures

Canadian asset management firm Brookfield and Axis Energy Ventures have formed a second joint venture to establish a renewable energy development platform in India. Brookfield will contribute up to $845 million of equity capital from its Brookfield Global Transition Fund II for the development and construction of power projects. Axis Energy Ventures will provide its existing pipeline of wind and solar power projects. The partnership aims to offer curated energy solutions to industry participants, including government entities, corporate customers, and emerging industries like green hydrogen. Brookfield has over 16 GW of wind and solar assets in operation or development in India.

Related News

Brookfield adds to India renewables portfolio with acquisition of Leap Green

VCCircle

VCCircle · 1y ago

Brookfield adds to India renewables portfolio with acquisition of Leap Green

Canada's Brookfield Asset Management has acquired a majority stake in Leap Green Energy, a renewable power firm based in Tamil Nadu, India. Brookfield will invest $200m upfront and has an option to invest an additional $350m to support Leap Green's growth. The company plans to increase its capacity to more than 3 GW in the next four to five years. Brookfield has previously invested in India's clean energy sector, including a $360m stake in renewable energy firm CleanMax and $1bn in Avaada Group.

Bottomline: How CleanMax fared in first year under Brookfield’s control

VCCircle

VCCircle · 11m ago

Bottomline: How CleanMax fared in first year under Brookfield’s control

The article discusses the performance of CleanMax, an Indian renewable energy company under the control of Canadian asset manager Brookfield. Brookfield invested $360 million in CleanMax to expand its renewable energy portfolio in India. The article highlights CleanMax's progress and achievements in its first year under Brookfield's management.

Adani Green Energy board okays pact to form JV, TotalEnergies to invest $444M

YourStory

YourStory · 1y ago

Adani Green Energy board okays pact to form JV, TotalEnergies to invest $444M

Adani Green Energy has announced that its board has approved binding documents for a joint venture with TotalEnergies. The agreement will allow TotalEnergies to invest an additional $444 million in a new 50:50 JV with Adani Green Energy. The JV will comprise a portfolio of 1,150 MWac of solar assets, including operational and under-execution projects. Adani Green Energy and TotalEnergies will each hold a 50% stake in the JV company. TotalEnergies currently has a 19.75% shareholding in Adani Green Energy.

CleanMax owner Brookfield targets $5 bn for climate fund backed by UAE’s Alterra

VCCircle

VCCircle · 1y ago

CleanMax owner Brookfield targets $5 bn for climate fund backed by UAE’s Alterra

Canada's Brookfield Asset Management plans to raise up to $5 billion for a new climate-focused fund called the Catalytic Transition Fund (CTF). The fund, launched in partnership with UAE-based climate investment firm Alterra, aims to invest in clean energy and transition assets in emerging economies such as South and Central America, South and Southeast Asia, West Asia, and Eastern Europe. Brookfield expects the CTF to make its first close by the end of 2024. The firm is increasing its focus on drawing up a pipeline of potential investments in the clean energy space and pre-marketing to potential partners.

IFC commits $105 million for Brookfield’s Bikaner solar power project

Livemint

Livemint · 1y ago

IFC commits $105 million for Brookfield’s Bikaner solar power project

The International Finance Corporation (IFC) will invest $105 million in a 550 MWp solar power project in Bikaner, Rajasthan, developed by Brookfield Asset Management. This investment will enable Brookfield to provide solar power to commercial and industrial consumers in India at competitive tariffs. The project will sell the generated power to consumers through long-term power purchase agreements and the merchant market. This investment by IFC aims to demonstrate the viability of large-scale renewable energy generation and the sale to corporate and industrial clients, contributing to India's decarbonization goals.

Brookfield-controlled CleanMax taps offshore investor for Thailand project

VCCircle

VCCircle · 12m ago

Brookfield-controlled CleanMax taps offshore investor for Thailand project

CleanMax Enviro Energy Solutions, an Indian renewable energy company controlled by Canadian firm Brookfield, is raising capital from an offshore investor to expand its rooftop solar portfolio in Thailand. After Brookfield acquired a majority stake in CleanMax last year, the company is planning to establish solar projects with a combined capacity of 300 MW in Thailand. CleanMax aims to contribute to Thailand's renewable energy goals by providing clean and sustainable energy solutions.

Axis Bank raises stake in Max Life Insurance

VCCircle

VCCircle · 1y ago

Axis Bank raises stake in Max Life Insurance

Axis Bank has increased its stake in Max Life Insurance, a subsidiary of Max Financial Services, by acquiring additional equity shares for INR 3.36 billion ($40.32 million). The move raises Axis entities' total holding in Max Life Insurance to 19.99%. Axis entities include Axis Bank, Axis Securities, and Axis Capital. Shares of Axis Bank rose by 2.2% following the news. This is the second increase in stake by Axis entities in Max Life Insurance, with the first being in April 2021.

Axis AMC raises $86 mn for second private credit fund, undershoots target

VCCircle

VCCircle · 5m ago

Axis AMC raises $86 mn for second private credit fund, undershoots target

Axis Asset Management Company (Axis AMC) has raised $86 million for its second private credit fund, Axis Structured Credit AIF II, falling short of the Rs 1,250-crore hard cap. Registered in January 2023, this Category-II alternative investment fund secured commitments from institutional investors, insurance companies, and high-net-worth individuals. With 65% of the fund already deployed, Axis AMC aims for full deployment by July 2024, planning a follow-on fund thereafter. This marks the firm's second private credit venture.

Brookfield India REIT raises $415 mn from IFC, others

VCCircle

VCCircle · 10m ago

Brookfield India REIT raises $415 mn from IFC, others

Brookfield India Real Estate Trust has raised $415 million by selling units to institutional investors such as the International Finance Corporation (IFC). The funds will be used to reduce leverage and acquire high-quality assets. This is the second institutional placement for the trust since its IPO in 2021. Brookfield India REIT manages 10 Grade-A assets across major cities in India and has a total leasable area of 28.9 million sq ft.

Brookfield set to score blockbuster gains as India hospitality portfolio firm goes public

VCCircle

VCCircle · 5m ago

Brookfield set to score blockbuster gains as India hospitality portfolio firm goes public

Canadian investment firm Brookfield is poised for significant returns from its six-year investment in a prominent Indian luxury hotel chain as it reduces its stake. Brookfield manages a $29 billion portfolio in India, spanning real estate, infrastructure, renewable energy, and private equity. The move comes as the hotel company goes public, allowing Brookfield to capitalize on its investment, signaling a successful venture in India's hospitality sector.

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