PE Deals

Brookfield Renewable invests in Indian clean energy provider CleanMax

With the deal, Brookfield Renewable acquired a controlling stake in CleanMax.

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  • Brookfield Renewable provided $360 million in primary and secondary financing
  • It made the investment through the Brookfield Global Transition Fund, which closed last year at $15 billion
  • Founded in 2011, CleanMax is a provider of clean energy to corporate consumers in Asia

CleanMax Enviro Energy Solutions, a Mumbai, India-based renewable energy company, has secured $360 million in primary and secondary financing from Brookfield Renewable.

Brookfield Renewable, which acquired a controlling stake in CleanMax, made the investment through the Brookfield Global Transition Fund, which closed last year at $15 billion.

Founded in 2011, CleanMax is a provider of clean energy to corporate consumers in Asia. It manages more than 1.6 gigawatts of operating wind and solar projects and supplies over 3076 gigawatt hours of renewable energy every year.

On the deal, Nawal Saini, managing director at Brookfield Renewable Power and Transition, said in a statement, “Indian corporates are well aligned with and actively working towards supporting the government’s net zero goals. CleanMax has a proven track record of being an efficient partner to C&I customers, enabling them to achieve their decarbonization targets. We are pleased to partner with CleanMax as they chart the next stage of their growth and look forward to supporting the company by leveraging Brookfield’s global relationships, access to capital and operational expertise.”

Brookfield Renewable is the flagship renewable power platform of Brookfield Asset Management, a Toronto-based alternative asset manager with more than $825 billion of assets under management.