Brookfield to invest up to $600 million in ACME Cleantech Ventures
The investment will enable the development of green molecule projects as a scalable solution to help industries decarbonize their operations across Asia and Europe
US investment firm Brookfield plans to inject up to $600 million into India's ACME Cleantech Ventures, the companies announced on Thursday. This investment will enable ACME to develop and construct green ammonia and green methanol projects in India and Oman.
Brookfield's entry into the low-carbon fuels sector through its Brookfield Global Transition Fund strategy signals a significant commitment to sustainable energy. The funding will bolster ACME's pipeline of green ammonia and other low-carbon fuel projects, both domestically and for export.
ACME has already established supply agreements with notable customers such as Norway's Yara International, Japan's IHI Corporation and Mitsubishi Gas Chemical, as well as Indian buyers. With the rising demand for green fuels as industries transition to alternatives to fossil fuels for emissions reduction and decarbonization, this investment is expected to capitalize on this growing market.
Brookfield has already established a substantial presence in India's renewable energy sector, with a portfolio encompassing around 50 gigawatts of operating and pipeline wind and solar assets.
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