Brookfield commits $845 million for Axis Energy’s power projects

Brookfield Asset Management and Axis Energy Ventures have announced their second joint venture in clean energy in India. Brookfield, through its subsidiary, Brookfield Global Transition Fund II, will invest a capital of $845 million to set up wind and solar power project pipeline for Axis Energy Ventures.

These projects are spread throughout the nation and are at numerous stages of implementation. In order to jointly offer customised energy solutions to different industry participants, including governmental bodies, commercial participants, and potential sectors like green hydrogen, both partners will make use of their respective experience and resources.

The funding supports India’s ambitious goal of achieving 500 GW of renewable energy capacity by 2030, which will be accomplished by scaling green assets incorporating numerous technologies, including solar, wind, and storage. With a firm commitment to sustainability and environmental responsibility, the partnership will hasten the development of clean energy projects in India.

In June 2023, CleanMax Enviro Energy Solutions Private Limited announced the closing of an $360 equity fund raise from Brookfield Renewable to enable CleanMax to pursue its growth plans of becoming a platform with more than 5 GW capacity over the next three to four years.

In June 2022, Tata Power Solar commissioned a 450 MW DC capacity solar pant for Brookfield Renewable India.