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					</table><p>Canada-based <a href="https://www.brookfield.com/" target="_blank" rel="noopener">Brookfield Asset Management</a> announced the final institutional close of a $15 billion raise for the Brookfield Global Transition Fund, focused on facilitating the global transition to net zero.</p>
<p>Brookfield claimed that the private fundraise is the largest ever dedicated to enabling the global shift towards net zero.</p>
<p>A diverse group of more than 100 investors worldwide committed to the fund, including public and private pension plans, sovereign wealth funds, insurance companies, endowments and foundations, financial institutions, and family offices. Brookfield is the largest investor in the fund.</p>
<p>Brookfield Asset Management is a global alternative asset manager with $725 billion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit and insurance solutions. Brookfield’s renewable arm has approximately $65 billion in assets under management, an installed capacity of 21,000 MW, and a 69,000 MW pipeline.</p>
<p>To date, approximately $2.5 billion has been allocated from the fund, spanning a range of decarbonization technologies with large-scale investments. Brookfield directed the investment to acquire the U.S. and German solar power and battery developers, with a combined renewable power development pipeline capacity of approximately 25,000 MW. It has also invested in a carbon capture and storage developer to fund the rollout of Brookfield’s critical technology across the energy and industrial units in North America.</p>
<p>Brookfield also formed a development partnership with a UK-based battery storage provider to operationalize up to 1,200 MW of capacity alongside 200 MW of co-located solar.</p>
<p>In January this year, Brookfield Renewable and its investors <a href="https://mercomindia.com/brookfield-renewable-acquires-urban-grid/" target="_blank" rel="noopener">acquired</a> Urban Grid, a U.S.-based renewable energy developer, for $650 million.</p>
<p>Last July, Brookfield Asset Management <a href="https://mercomindia.com/brookfield-raises-billion-energy-fund/" target="_blank" rel="noopener">raised</a> $7 billion in the initial close of BGTF. It announced that the amount would be invested in carbon-intensive businesses and renewable energy firms focused on the global transition to net zero.</p>
<p>This month, Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power, <a href="https://mercomindia.com/tata-power-solar-commissions-solar-project-in-rajasthan/" target="_blank" rel="noopener">commissioned</a> a 450 MW solar project for Brookfield Renewable in Rajasthan. With over 800 GWh of green energy production annually, the project would help Brookfield mitigate more than 600,000 tonnes of carbon dioxide emissions every year.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Brookfield Asset Management Raises $15 Billion for Clean Energy Transition Fund

<p><a href="http://www.renesolapower.com/" target="_blank" rel="noopener">ReneSola Ltd</a>, a fully integrated solar project developer and operator, has signed an exclusivity agreement with an affiliate of <a href="https://www.brookfield.com/" target="_blank" rel="noopener">Brookfield Asset Management</a>. Under the agreement, ReneSola has agreed to negotiate exclusively with Brookfield Asset Management to sell its distributed generation operating solar assets in China.</p>
<p>ReneSola has distributed generation operating solar assets with a total capacity of 206.8 MW in China. The negotiation will take place over a 60-day period.</p>
<p>Brookfield Asset Management intends to acquire the project-based special purpose vehicles (SPVs) associated with the 206.8 MW of distributed generation operating assets, which are owned by Zhejiang ReneSola Investment, ReneSola&#8217;s subsidiary that holds the company&#8217;s distributed generation projects in China.</p>
<p>Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented, &#8220;This transaction will substantially reduce the company&#8217;s leverage ratio and significantly improve cash flow and liquidity. After completing this transaction, the proceeds from the sale of the distributed generation operating assets will provide us with more resources and flexibility to deploy our capital.&#8221;</p>
<p>Li also added, &#8220;We continue to pursue opportunities to develop, build and monetize small-scale and DG projects in China and other geographies, and believe our strategy meets the development trend of solar energy.&#8221;</p>
<p>There is no assurance that ReneSola and Brookfield Asset Management will enter into a definitive agreement for a potential transaction and there is no assurance as to the form, terms or timing of any transaction even if an agreement is reached between the parties.</p>
<p><a href="https://mercomindia.com/globeleq-acquire-brookfield-renewable-africa/" target="_blank" rel="noopener">Mercom recently reported</a>, Globeleq, an independent power producer and developer in Africa, is set to acquire Brookfield Asset Management’s interests in its South African renewable energy portfolio. The agreement is subject to various closing conditions and once fulfilled, will give Globeleq a majority shareholding in six renewable projects totaling 178 MW, as well as ownership in Brookfield’s South African asset management company.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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Brookfield Negotiates with ReneSola for its Distributed Solar Assets in China

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