Global investment firm Brookfield has launched Lumara, a new renewable energy platform designed to tackle key bottlenecks in India's clean energy sector. According to reports from Brookfield, the platform will deploy $600 million across solar, wind and battery storage projects by addressing delays in power purchase agreements (PPA) contracting, grid connection approvals, and land acquisition. The platform aims to accelerate renewable energy project development by advancing them earlier in their lifecycle, allowing developers to bring capacity online faster.
As reported by Brookfield, India represents one of the most attractive global markets for renewable energy, supported by strong demand and a target to achieve 500 GW by 2030. Nawal Saini, managing partner and head of energy, South Asia and the Middle East at Brookfield, stated that Lumara provides distinct solutions to market bottlenecks, enabling faster delivery of critical domestic energy capacity. The platform's initial portfolio targets 6 GW of solar, wind and battery storage capacity through Brookfield's Catalytic Transition Fund (CTF), which focuses on deploying capital into clean energy and transition assets across emerging markets.
According to Brookfield, the launch comes as global investors continue to increase allocations to energy transition assets, with renewable power generation and battery storage emerging as key investment themes. Venture capital investors have increasingly backed companies across the clean energy value chain, while larger global investors have continued to finance utility-scale wind and solar projects. The investments align with India's broader clean energy ambitions, as under its Nationally Determined Contributions (NDCs) submitted to the United Nations, India aims for non-fossil fuel sources to account for 60% of its installed electricity capacity by 2035.
As reported by Brookfield, the firm has deployed more than $32 billion in India across infrastructure, energy, real estate and private equity sectors. The company's existing India energy portfolio comprises approximately 45 GW of wind and solar assets that are operational or under development. Brookfield manages more than $1 trillion in assets globally across 30 countries, positioning it as a major player in the international clean energy transition.
