Key facts
- Brookfield will invest up to $600 million in ACME Cleantech Ventures.
- The investment will support ACME's green ammonia and green methanol projects.
- ACME has secured supply agreements with Yara International, IHI Corporation, Mitsubishi Gas Chemical, and Indian buyers.
- Brookfield's investment will be made through its Global Transition Fund strategy.
- ACME plans to expand production of green fuels for domestic and export markets.
US alternative asset manager Brookfield is set to invest up to $600 million in India's ACME Cleantech Ventures, marking its entry into the region's low-carbon fuels sector. The investment, to be made through Brookfield's Global Transition Fund strategy, will help ACME develop and build green ammonia and green methanol projects.
ACME stated that the funding will support its pipeline of projects in India and Oman, aiming to expand the production of green ammonia and other low-carbon fuels for both domestic and export markets. The company has already secured supply agreements with notable customers including Norway's Yara International, Japan's IHI Corporation, Mitsubishi Gas Chemical, and various Indian buyers.
The demand for green fuels is anticipated to grow as industries look for alternatives to fossil fuels to reduce emissions and meet decarbonisation targets. Brookfield already has a significant presence in India's renewable energy sector, with a portfolio of approximately 50 gigawatts of operating and pipeline wind and solar assets.