Brookfield Invests $600 Million in ACME Green Fuels
Article excerpt
Highlighted: the sentence this signal was extracted from
Brookfield will invest up to $600 million in India's ACME Cleantech Ventures, expanding its energy transition strategy into low-carbon fuels. The capital will support the development and construction of green ammonia and green methanol projects in India and Oman. It also gives the global alternative asset manager its first exposure to the region's low-carbon fuels sector. The investment will be made through Brookfield's Global Transition Fund strategy. For ACME, it provides institutional capital to advance a pipeline of projects as demand for lower-carbon industrial fuels grows. Brookfield already has a substantial position in India's renewable energy market. Its portfolio includes about 50 gigawatts of operating and pipeline wind and solar assets. The ACME investment takes the firm further along the clean energy value chain. Rather than focusing solely on renewable power generation, Brookfield is adding exposure to fuels produced using clean electricity. Green ammonia and green methanol are emerging as potential decarbonisation tools for sectors where direct electrification can be difficult. These include shipping, chemicals and other emissions-intensive industrial activities. Demand is expected to grow as companies seek alternatives to fossil fuels and work toward corporate and national decarbonisation targets. For infrastructure investors, that shift is creating another...
Keep reading with a free account
The rest of this article, and every signal for Brookfield, is in your free account.
