NEW DELHI: Global investment firm Brookfield will invest up to $600 million in ACME Cleantech Ventures to support development and construction of green molecule projects in India and West Asia, the companies said Thursday. ACME Cleantech Ventures is a UK-based privately held entity within ACME Group, involved in green molecule projects.Govt is promoting green hydrogen and its derivatives, including green ammonia and green methanol, through National Green Hydrogen Mission, which aims at making India a global hub for their production, use and export.ACME is developing green ammonia and green methanol facilities in India and Oman. It has secured offtake partnerships with international and domestic companies, including Norway’s Yara International, Japan’s IHI Corporation, Mitsubishi Gas Chemicals, Solar Energy Corporation of India and fertiliser companies IFFCO, Paradeep Phosphates, Coromandel International and Indorama India. Brookfield will make the investment through its Brookfield Global Transition Fund strategy.The investment will support the development of green molecule projects for industrial decarbonisation across Asia and Europe. Brookfield has investments in India’s renewable energy sector, with its portfolio comprising nearly 50GW of wind and solar assets in operation and in the pipeline.
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