Brookfield to Invest Up to $600 Million in ACME Cleantech's Green Molecule Projects
Brookfield will invest up to $600 million in ACME Cleantech Ventures, a UK-based entity within the ACME Group, to support the development and construction of an advanced pipeline of green molecule projects across India and the Middle East. The investment is being made through Brookfield's Global Transition Fund strategy, which focuses on opportunities supporting the shift to a net-zero economy, and marks Brookfield's entry into the green molecules sector in the region.
ACME Group chairman Manoj Upadhyay said the equity valuation for the structured deal is expected to be finalised by the end of 2026. The capital will be used to fund four developments: the second phase of ACME's project in Duqm, Oman, along with two green ammonia units and a green methanol facility in Odisha. Upadhyay said ACME will maintain a significant majority stake in all its projects and business entities.
Nawal Saini, Managing Partner and Head of Energy, South Asia and the Middle East at Brookfield, said the investment combines the firm's global scale and institutional capital with ACME's operating capabilities to capture the growing energy transition opportunity in India and the Middle East. ACME aims to build a global platform to supply cost-competitive green ammonia and other green molecules across Asia and Europe, backed by long-term agreements with major international counterparties.
Brookfield already has a significant presence in India's renewable energy sector, with an energy portfolio comprising approximately 50 GW of wind and solar assets in operation and under development across its platforms in the country.