Brookfield Asset Management has launched Lumara Energy, a renewable energy platform that plans to deploy approximately $600 million across an initial portfolio of more than 6 GW of solar, wind, and battery storage projects in India.

The platform is anchored by Brookfield’s Catalytic Transition strategy. Brookfield is a New York-headquartered global investment firm focused on infrastructure, renewable energy, private equity, real estate, and credit.

Lumara will focus on addressing delays in power purchase agreement contracting, grid connectivity, and land acquisition.

The platform plans to support projects with advanced land acquisition and grid interconnection positions.

Lumara will also provide structured credit solutions to renewable energy developers to support project development and execution.

Lumara will supply clean energy solutions to commercial and industrial consumers, including global companies and hyperscale data center operators. Brookfield said the platform will support these consumers’ decarbonization goals through flexible, long-term power supply arrangements.

In India, Brookfield has approximately 45 GW of wind and solar projects operating or under development across several platforms. The company has invested more than $32 billion in the country across infrastructure, energy, real estate, and private equity.

Brookfield recently agreed to acquire North American battery storage platform Aypa Power from funds managed by Blackstone Energy Transition Partners.

Last year, Brookfield announced the completion of its acquisition of Alba Renewables, a renewable energy project developer. The acquisition marked Brookfield’s entry into the Philippines, Thailand, and Vietnam.

Solar corporate funding increased worldwide in the first half of 2026.

Global solar companies raised $16.9 billion in corporate funding during the first half (1H) of 2026, a 56% year-over-year increase from $10.8 billion in the corresponding period of 2025, according to Mercom Capital Group’s 1H and Q2 2026 Solar Funding and M&A Report. The number of corporate funding deals increased by 23%, from 78 in 1H 2025 to 96 in 1H 2026. Solar downstream companies recorded the highest venture capital activity, raising $884 million across 22 deals in 1H 2026.