Brookfield acquires controlling stake in CleanMax Solar for $360 million

MUMBAI (Reuters) – Canadian investor Brookfield said on Thursday it has acquired a controlling stake in India’s CleanMax Enviro Energy Solutions for $360 million.

Brookfield didn’t say how big a stake it took, but the deal deepens Brookfield’s presence in India, where it has already invested billions in private equity and real estate.

CleanMax operates solar and wind farms as well as rooftop panels for corporate clients in India including Bengaluru Airport.

The company said it generates 1.6 gigawatts of clean energy and helps offset 2.5 million tons of carbon dioxide annually.

Nawal Saini said, “Indian businesses are well aligned and actively working towards supporting the government’s net zero goals. CleanMax has a proven track record of being an effective partner to C&I clients (both commercial and industrial), enabling them to achieve their decarbonisation goals.” MD, Renewable Energy and Transitions, Brookfield.

(Reporting by M. Sriram; Editing by Jason Neely)

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: Jun 01 2023 | 3:30 p.m ist