Brookfield, a Canadian asset management firm, and Axis Energy Ventures, a Hyderabad-based renewables developer, announced this week their second joint venture partnership to establish a renewable energy development platform.
The JV will house Axis Energy Ventures’ existing development pipeline of wind and solar power projects which are spread across the country and at various stages of development. Brookfield, through the Brookfield Global Transition Fund II (BGTF II), has committed to provide equity capital of up to $845 million towards the development and construction of these power projects.
“Under this strategic partnership, both partners will leverage their expertise and resources to jointly provide curated energy solutions to various industry participants, including government entities, corporate customers, and emerging industries such as green hydrogen,” stated Brookfield.
Brookfield has more than 16 GW of wind and solar assets in operation or in the development pipeline across India.
Since 2019, Brookfield and Axis Energy Ventures through their earlier joint venture ABC Renewables have collaborated to develop over 1.8 GW of solar and wind assets.
Brookfield Asset Management offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors. Brookfield operates Brookfield Renewable Partners, one of the world’s largest publicly traded, pure-play renewable power platforms, with approximately 31.3 GW of installed renewable energy capacity and a development pipeline of approximately 134.4 GW of renewable power assets.
Axis Energy Ventures develops, owns, and operates wind, solar, wind-solar hybrid, and renewable energy projects along with storage solutions through battery, pumped hydro, etc. Axis Energy Group has over 10 GW of renewable energy projects at various stages of implementation across the country.
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