Brookfield has launched Lumara, a new renewable energy platform focused on accelerating the development and construction of renewable energy projects. The platform aims to address key market bottlenecks, including delays in power purchase agreement contracting, slow grid connection queues, and prolonged land acquisition timelines.
Lumara will deploy approximately $600 million, anchored by an initial portfolio of more than 6 GW across solar, wind, and battery energy storage system projects. Moreover, Brookfield is investing in the platform through its Catalytic Transition Fund, a dedicated strategy focused on clean energy and transition assets in emerging markets.
