Brookfield has announced the launch of Lumara Energy, a new renewable-energy platform in India that will deploy $600 million and have an initial development portfolio of more than 6 gigawatts across solar, wind and battery storage.
Lumara is anchored by Brookfield’s Catalytic Transition strategy, which will invest in clean-energy and transition assets in emerging markets.
The platform was created to address several constraints affecting renewable-energy deployment in India, according to various sources. These challenges include delays in finalizing power-purchase agreements (PPAs), long grid connection queues and extended land acquisition timelines. Lumara will support faster project execution by advancing developments with secured land and grid interconnection so they can move ahead before PPAs are finalized, Taiyang News reports. The platform also will provide credit solutions to developers to help accelerate project pipelines.
“India is at an imp
