Brookfield backs India's ACME with up to $600M for green fuels
What's the deal? BrookfieldDealroom has a profile for this one. Try Dealroom → will invest up to $600 million in India's ACME Cleantech VenturesDealroom has a profile for this one. Try Dealroom → to help develop and build green ammonia and green methanol projects, the companies said on September 17. The investment will be made through Brookfield's Global Transition FundDealroom has a profile for this one. Try Dealroom → strategy.
What's the endgame? ACME said the funding will support an advanced pipeline of projects in India and Oman. It aims to expand production of green ammonia and other low-carbon fuels for both domestic and export markets.
Who's buying? ACME has secured supply agreements with Norway's Yara InternationalDealroom has a profile for this one. Try Dealroom →, Japan's IHI CorporationDealroom has a profile for this one. Try Dealroom →, and Mitsubishi Gas ChemicalDealroom has a profile for this one. Try Dealroom →, alongside Indian buyers.
Why now? The deal marks Brookfield's entry into the region's low-carbon fuels sector. Demand for green fuels is expected to rise as industries seek alternatives to fossil fuels to cut emissions and meet decarbonisation targets.
The signal: Brookfield already has a sizeable presence in India's renewables, with a portfolio of about 50 gigawatts of operating and pipeline wind and solar assets. The ACME investment extends that footprint from clean power into the fuels that heavy industry needs to decarbonise.
Image credit: Generated with Gemini
