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Global investment firm Brookfield has launched Lumara, a new renewable energy development platform in India backed by an investment of approximately $600 million.  Lumara will begin operations with a development portfolio exceeding 6 GW, comprising solar, wind and battery energy storage system (BESS) projects.
According to Brookfield, the platform will address several long-standing hurdles that have slowed renewable energy deployment in India. These include delays in finalising power purchase agreements (PPAs), lengthy grid connectivity queues and extended land acquisition processes, all of which have affected project execution timelines.
Brookfield already has a significant presence in India’s renewable energy sector, with nearly 45 GW of wind and solar assets either operational or under development across its investment platforms. Across all sectors, including infrastructure, energy, real estate and private equity, the firm has invested more than $32 billion in India.
Nawal Saini, Managing Partner and Head of Energy for South Asia and the Middle East at Brookfield, said India continues to rank among the world’s most attractive renewable energy markets, driven by robust electricity demand and the government’s target of installing 500 GW of renewable energy capacity by 2030.
The investment in Lumara is being made through Brookfield’s Catalytic Transition Fund, which focuses on financing clean energy and energy transition projects across emerging markets.
Brookfield’s worldwide renewable energy portfolio spans hydroelectric, solar, wind, battery storage, distributed generation, nuclear power and other sustainable energy technologies, with a combined installed capacity of around 46 GW.
Solar assets account for approximately 14.2 GW of operational capacity, while another 129 GW is under development. The company’s wind portfolio totals 17.3 GW across North America, South America, Europe and Asia, with an additional 44.3 GW of wind capacity in the development pipeline.
Beyond utility-scale generation, Brookfield also operates distributed energy and energy storage businesses across multiple regions. Its distributed generation portfolio currently stands at approximately 5.8 GW, while nearly 52.6 GW of additional capacity is under construction or in various stages of development.
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