Through Lumara Energy, Brookfield says it will target long-standing development hurdles that often delay renewable energy projects
Brookfield is backing the new India-focused business with dedicated capital and a standalone management team
The move strengthens the firm's renewable energy presence in one of the world's fastest-growing clean energy markets
Global alternative investment manager Brookfield has launched Lumara Energy, a renewable energy platform in India that will invest about $600 million to speed up the development of solar, wind, and battery energy storage projects in the country.
The platform, it explains, will start with an initial portfolio of over 6 GW. It is designed to address some of the key challenges slowing renewable energy deployment, including delays in power purchase agreement (PPA) signing, long grid connection queues, and land acquisition timelines.
Brookfield said Lumara will support faster project execution by advancing developments with secured land and grid interconnection so they can move ahead before PPAs are finalized.
Additionally, the platform will also provide credit solutions to developers to help accelerate their project pipelines. Lumara will operate with a dedicated management team overseeing project execution, capital deployment, and asset management.
Brookfield is investing in Lumara through its clean energy and transition assets in emerging markets-focused Catalytic Transition Fund.
The launch expands Brookfield's renewable energy presence in India, where the company said it has around 45 GW of wind and solar assets in operation and under development across its platforms.
Some of its existing investments in India’s renewable energy sector include Avaada, CleanMax, and Evren (see Brookfield-Promoted Evren Targets 9 GW RE In Indian State). In 2024, it acquired a controlling interest in Leap Green Energy (see Brookfield Makes Another RE Investment In India).
Nawal Saini, Managing Partner and Head of Energy for South Asia and the Middle East at Brookfield, called India an attractive global renewable energy market as it targets 500 GW of non-fossil-fuel capacity by 2030. According to Saini, “Lumara provides distinct solutions to the bottlenecks in the market, which means advancing projects earlier in their life cycle and enabling faster delivery of critical domestic energy capacity.”
He added that Brookfield’s new India business will cater to the decarbonization needs of commercial and industrial (C&I) customers, including global corporations, hyperscalers, and government buyers, through flexible long-term power solutions.
