Brookfield Asset Management is in discussions to acquire a majority stake in Indian renewables company Leap Green Energy Ltd, which is currently held by its founding family and US investor The Rohatyn Group (TRG), Bloomberg reported, citing sources familiar with the matter.
The Toronto-based firm could potentially invest USD 500 million (EUR 460.1 million) through its global transition fund, which had its initial closing in February.
Founded in 2009 and based in Tamil Nadu, Leap Green Energy has a diverse portfolio that includes wind-solar hybrids, pumped hydro storage, green hydrogen/ammonia, grid-isolated electric vehicle (EV) charging, offshore wind, and repowering projects. The company currently operates with a capacity of 751 MW and aims to exceed 7 GW by the end of 2029, as stated on its website.
Insiders indicated that the proposed deal would provide Leap Green with the necessary funds to further develop its wind power projects in India.
