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Brookfield has launched a new renewable energy platform, Lumara, in India with an investment of about USD 600 million through its Catalytic Transition Fund. The platform will support the development and construction of solar, wind and battery energy storage projects, backed by an initial portfolio exceeding 6 GW. Lumara has been created to address key challenges such as delays in power purchase agreements, grid connectivity and land acquisition. The move strengthens Brookfield's growing energy portfolio in India as the country continues to expand its clean energy capacity.
Brookfield has launched a new renewable energy platform, Lumara, in India that will invest around USD 600 million to accelerate the development of clean energy projects across the country. The platform, announced on Thursday, will be funded through Brookfield's Catalytic Transition Fund and will begin operations with an initial portfolio of more than 6 GW of solar, wind and battery energy storage capacity.
The new platform has been set up to speed up the development and construction of renewable energy projects by addressing some of the key issues affecting the sector. These include delays in power purchase agreement negotiations, long waiting periods for grid connectivity and prolonged land acquisition processes, which have often slowed the execution of clean energy projects in India.
Brookfield said Lumara will support the faster delivery of renewable energy assets while helping improve project execution across different stages of development. The platform is expected to cater to the growing demand for clean power from commercial and industrial consumers, including global companies and hyperscale data centre operators, as well as government requirements linked to India's decarbonisation goals.
Nawal Saini, Managing Partner and Head of Energy for South Asia and the Middle East at Brookfield, said the business is well placed to meet the decarbonisation requirements of commercial and industrial customers, including multinational companies, hyperscalers and government entities.
The latest investment further expands Brookfield's renewable energy presence in India. The company's energy portfolio in the country currently includes nearly 45 GW of wind and solar assets that are either operational or under development.
Brookfield has steadily increased its investments in India across infrastructure, renewable energy, real estate and private equity over the years. According to the company, it has invested more than USD 32 billion across these sectors, reflecting its long-term commitment to the Indian market. The launch of Lumara comes as India continues to expand renewable energy capacity to support rising electricity demand, strengthen energy security and advance its clean energy transition.
Source PTI
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