Brookfield, the Canadian investor which owns French battery energy storage system (BESS) developer Neoen, has closed what it described as “the world’s largest private fund dedicated to the transition to clean energy.”
The $20 billion committed to the Brookfield Global Transition Fund II was topped up by a further $3.5 billion or so co-invested into the Toronto-based investor’s portfolio.
Announcing closure of the fund at the start of the month, Brookfield said $5 billion of the commitments had already been spent on acquisitions including Neoen and the Evren joint venture set up by Brookfield and Hyderabad-based developer Axis Energy Group. Brookfield, which said Evren aims to drive more than 10 GW of storage, solar, and wind projects, also used the cash to acquire US-based energy company Geronimo Power.
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