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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>The Ministry of New and Renewable Energy (<a href="http://www.mnre.gov.in/">MNRE</a>) had not utilized the entire budget allocated to it by the National Clean Energy and Environment Fund (NCEEF) during financial year (FY) 2017-18. As of March 2018, it has spent just ₹36.13 billion (~$555.9 million) of the ₹39.93 billion (~$614.3 million) allocated to it.</p>
<p>As of March 28, 2018, the MNRE had utilized ₹770.5 million (~$11.9 million) of the ₹870 million (~$13.4 million) of the Gross Budgetary Support (GBS) allocated to it for the fiscal year.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2018/04/FUNDA.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-9638" src="https://mercomindia.com/wp-content/uploads/2018/04/FUNDA.png" alt="MNRE Utilized ₹36.13 Billion from NCEEF Fund in FY 2017-18" width="592" height="286" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/04/FUNDA.png 592w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/04/FUNDA-300x145.png 300w" sizes="(max-width: 592px) 100vw, 592px" /></a>The information was brought to light by the union minister for power, R. K. Singh, in a written reply to the Rajya Sabha. Singh was answering questions about the annual funds allocated to and utilized by MNRE from the NCEEF and GBS.</p>
<p>MNRE had utilized all of the allocated budget in the previous three years.</p>
<p>Singh also added that for FY 2018-19, MNRE would continue to receive funds from GBS and was allocated a budget of ₹51.47 billion (~$792 million).</p>
<p>In March 2017, Mercom <a href="https://mercomindia.com/mnre-receive-rs-53-41-billion-817-million-national-clean-energy-fund-fy2017-2018/" target="_blank" rel="noopener">reported</a> that MNRE was expected to receive approximately ₹53.41 billion (~$817 million) from the NCEEF for FY 2018-19.</p>
<p>The National Clean Energy Fund (NCEF) was created in 2010 to fund research for innovative projects using clean energy technologies by public and private sector entities.</p>
<p>The fund has evolved under the NDA administration and was rebranded as the Clean Environment Cess from the earlier Clean Energy Cess and expanded to include river cleaning and other projects.</p>
<p>The cess, which was ₹50 (~$0.74) per ton when it was introduced in 2010, was raised to ₹100 (~$1.5) per ton in 2014 and to ₹200 (~$3) per ton in the 2015-2016 budget. It was again doubled from ₹200 (~$3)/ton to ₹400 (~$6)/ton in the 2016-17 budget.</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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MNRE Utilized ₹36.13 Billion from NCEEF in FY 2017-18

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