On July 11, 2024, Brookfield Asset Management Ltd (TSE: BAM) announced that it had acquired a majority controlling stake in Indian renewables company Leap Green Energy Pvt Ltd, in a deal valued at up to US$550 million (CAD 742 million). Brookfield made an initial investment of over US$200 million (CAD 270 million) by subscribing to new shares and purchasing shares from existing shareholders, with an option to inject an additional US$350 million (CAD 472 million) to support Leap Green’s future growth.

Leap Green Energy, based in Tamil Nadu, is one of India's leading renewable energy producers, focusing on clean energy solutions for commercial and industrial (C&I) customers. The company operates 775 MW of wind and solar assets, with plans to grow its portfolio to over 3 GW in the next four to five years. Leap Green’s projects contribute to India’s renewable energy targets and its commitment to reducing carbon emissions.

Brookfield Asset Management, headquartered in Canada, is a global leader in alternative asset management, with a significant focus on renewable energy, infrastructure, and real estate. Brookfield’s investment in Leap Green was made through its Global Transition Fund I (BGTF I), which is dedicated to facilitating the global shift towards clean energy.

Shardul Amarchand Mangaldas & Co advised Brookfield, while AZB & Partners represented Leap Green Energy’s founders, Rajeev Akshay Karthikeyan and Dev Anand Vijayan, along with a majority private equity shareholder. The deal positioned Brookfield to strengthen its renewable energy portfolio in India’s growing C&I segment.