Brookfield plans to invest up to $600 million in ACME’s green molecules business

Brookfield to invest up to $600m in ACME’s green molecules business

The investment will enable the development of green molecule projects as a scalable solution to help industries decarbonize their operations across Asia and Europe

Mumbai: Global investment firm Brookfield will invest up to $600 million in ACME Cleantech Ventures, the green molecules platform of ACME Group, to fund the development and construction of projects in India and the Middle East.The investment marks Brookfield’s entry into the green molecules sector in the region and will be made through its Brookfield Global Transition Fund, which focuses on investments supporting the transition to a net-zero carbon economy.ACME Cleantech Ventures, a UK-based entity within ACME Group, is dedicated to the group’s green molecules business. The platform is developing a pipeline of green ammonia and green methanol projects in India and Oman.“The demand for green molecules continues to grow as companies and governments seek scalable solutions to decarbonize while strengthening energy security,” said Nawal Saini, managing partner and head of energy, South Asia and the Middle East, Brookfield.ACME said the investment would support the expansion of its green molecules platform and help develop projects aimed at supplying clean fuels and feedstock to domestic and international markets.The company has secured offtake partnerships with global and Indian companies, including Yara International, IHI Corporation, Mitsubishi Gas Chemicals, Solar Energy Corporation of India (SECI), IFFCO, Paradeep Phosphates, Coromandel International and Indorama India.ACME currently has an operational green ammonia facility in Bikaner, Rajasthan, and is developing a green ammonia project in Duqm, Oman. It is also establishing new facilities in Odisha following its green ammonia purchase agreement with SECI, alongside a joint venture with Japan’s IHI Corporation and an offtake agreement with Mitsubishi Gas Chemicals.ACME Chairman Manoj Upadhyay said the company’s portfolio, supported by long-term offtake contracts with domestic and international counterparties, provides a foundation for building sustainable cash flows.The green molecules business is targeting hard-to-abate sectors such as fertilisers, shipping, refineries, chemicals and heavy industries, where green hydrogen, ammonia and methanol can be used to reduce emissions.For Brookfield, the investment expands its existing exposure to India’s renewable energy sector. The investment firm said its energy portfolio in India comprises around 50 GW of wind and solar assets in operation and under development across its platforms.Brookfield has more than $1 trillion in assets under management globally and invests across infrastructure, energy, private equity, real estate and credit.