India — U.S. alternative asset manager Brookfield plans to invest up to $600 million in ACME Cleantech Ventures as the companies expand projects focused on green ammonia, green methanol and other low-carbon fuels.
The investment will support ACME’s development and construction pipeline across India and Oman, according to the companies. Brookfield will make the commitment through its Brookfield Global Transition Fund strategy.
The transaction marks Brookfield’s entry into the region’s low-carbon fuels sector and adds to its existing renewable-energy investments in India.
ACME said the funding will help expand production of green ammonia and other low-carbon fuels for domestic and international markets.
The company already has supply agreements with several international customers, including Norway’s Yara International, Japan’s IHI Corporation and Mitsubishi Gas Chemical. ACME also has agreements with buyers in India.
Green ammonia and other low-carbon fuels are being developed as alternatives for industries seeking to reduce fossil-fuel use and meet emissions-reduction targets.
The investment further strengthens Brookfield’s presence in India’s renewable-energy market. Its portfolio in the country includes about 50 gigawatts of operating and pipeline wind and solar assets.
Green ammonia is produced using hydrogen generated with low-carbon energy and can serve as an industrial fuel or a means of transporting hydrogen. Green methanol is another low-carbon fuel used in industrial and energy applications.
The investment comes as companies and governments continue developing infrastructure to support lower-carbon energy systems. Demand for alternative fuels is expected to increase as industries face pressure to cut emissions and countries pursue decarbonization targets.
ACME’s operations in both India and Oman give the company a regional development footprint rather than concentrating its projects in one market. Its supply agreements with international customers also show that the projects are being developed for both domestic use and export opportunities.
Brookfield’s planned investment is intended to support ACME’s broader project pipeline rather than finance only individual developments.
The deal adds to the flow of international capital into India’s energy sector, particularly into renewable power and lower-carbon fuels.
ACME and Brookfield did not provide further details on the precise timing or structure of the investment beyond the planned commitment of up to $600 million.
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