Brookfield just closed the world’s largest private clean energy fund. (Axios)
The investment giant raised $20B for its second energy transition fund, backed by UAE’s climate fund and Norway’s sovereign wealth fund. Another $3.5B in co-investments brings total commitments to more than $23B.
About $5B is already in play, including the acquisition of renewables developer Neoen and energy developer Geronimo Power, plus a new investment in an Indian JV focused on solar and storage.
Brookfield president Connor Teskey said rising demand from AI (among other factors) is fueling the need for “an ‘any-and-all approach’ to energy investment that will continue to favor low-carbon resources.”