3 hrs ago
Brookfield Invests $600 Million in ACME Green Molecules
Brookfield is investing $600 million in an ACME Group company.
The money will help build projects that make cleaner fuels and chemicals.
These projects include green ammonia and green methanol facilities.
They will be developed in India and Oman.
Two green ammonia projects and one green methanol project are planned in Odisha.
The funding will also support the second phase of an Oman project.
The first phase of the Oman green ammonia project is already fully funded.
The exact company valuation and ownership stake will be decided by the end of this year.
Both companies said the partnership supports the shift toward cleaner energy.
Brookfield will invest $600 million in ACME Cleantech Ventures through its Brookfield Global Transition Fund.
The equity investment will support green molecule projects in India and West Asia.
Funding will go toward Oman project Phase 2, two green ammonia projects in Odisha, and an Odisha green methanol project.
The investment’s valuation and stake are expected to be finalized by the end of this year.
ACME said it generally retains a significant majority in its projects and business entities.
- Who
- Brookfield and ACME Group’s ACME Cleantech Ventures are involved.
- What
- Brookfield will make a $600 million equity investment to develop ACME’s green molecule projects.
- Where
- The projects are in India and West Asia, including Odisha and Oman.
- When
- The article does not specify the announcement date; the valuation and stake are expected to be finalized by the end of this year.
- Why
- The investment will fund green ammonia and green methanol projects and support energy-transition and decarbonization goals.
Key facts
- Investment amount
- $600 million, described as about Rs 5,760 crore
- Investor
- Brookfield, through the Brookfield Global Transition Fund
- Recipient
- ACME Cleantech Ventures, a UK-based privately held entity within ACME Group
- Investment structure
- Equity deal
- Projects funded
- Oman project Phase 2, two green ammonia projects in Odisha, and a green methanol project in Odisha
- Oman Phase 1
- The first phase of the Oman green ammonia project is fully funded
- ACME ownership
- ACME normally holds a significant majority in its projects and business entities
Quotes
Manoj Upadhyay
Chairman of ACME Group
“As we develop our world-class green ammonia and other green molecules projects, we aim to accelerate cost-competitive decarbonisation and build a global platform serving customers in Asia, Europe and beyond. Our strong project portfolio, underpinned by long-term, bankable offtake contracts with blue-chip counterparties in India and globally creates a solid foundation for generating largescale sustainable cash flows over the long term.”
financialexpress.com
“Brookfield’s entry into the green molecules sector in the region combines our global scale and institutional capital with ACME’s operating capabilities. ACME has an attractive project pipeline to capture the growing energy transition opportunity in India and West Asia.”
financialexpress.com
Sources
Related news
Brookfield’s $600 Million Bet Targets India’s Green-Molecule Scale-Up
EQT Plans $50 Billion India Investment Focused on AI, Renewables
ACME Solar Secures Rs 1,571 Crore for Rajasthan Project
Gopalpur Industrial Park Advances as Eastern India’s Green Hub
Andhra Pradesh Inaugurates Suzlon’s 1,325 MW Wind Projects
Avaada Plans Rs 10,000-Crore Zero-CBAM Green Campus in Hisar
U.S. Treasury Yields Ease as Oil Prices Fall
Rupee Recovers From Eight-Week Low on RBI, Inflows
Oil Prices Slide as Saudi Export Routes Ease Supply Fears
