Brookfield appoints Enfinity Global's former South Asia CEO to lead renewables platform Lumara
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Brookfield has appointed former Enfinity Global South Asia CEO Vignesh Nandakumar to lead its newly-launched Indian renewable energy financing platform Lumara, according to a source familiar with the appointment. Brookfield announced the establishment of Lumara on Thursday (30 July), with a plan to provide USD 600m in credit to renewables developers to fund new projects at preparatory stages. The firm did not respond to a request for comment on Nandakumar's appointment. Lumara's funding will help developers address construction bottlenecks, including delays in contracting power purchase agreements (PPA), slow grid connection queues, site development issues, and prolonged land acquisition timelines, Brookfield said in the announcement. In particular, it will provide funding to developers to secure land and interconnection rights before obtaining a PPA. It will be anchored by an initial portfolio of over 6 GW of capacity spread across solar, wind and battery energy storage systems. "The business is well-positioned to cater to the decarbonization targets of commercial and industrial (C&I) customers, including global corporates and hyperscalers, and the government, by providing highly flexible power solutions and predictably service multi-year renewable energy requirements of these consumers at scale," Nawal Saini, Brookfield's managing partner and head of energy for South Asia...
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