Brookfield renewable invests $360 million in CleanMax

Brookfield Renewable, an arm of Brookfield Asset Management, Inc., has entered into an agreement to acquire a majority stake in CleanMax Enviro Energy Solutions. Through a combination of a secondary purchase of sha­res from current shareholders and a primary capital infusion, Brook­field will make an equity investment of $360 million (about Rs 29.7 billion). The investment is being made via the Brookfield Global Transition Fund, the firm’s impact fund focusing on investments to accelerate transition to a net-zero carbon economy.