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.
In July 2026, Brookfield agreed to acquire Aypa Power from Blackstone Energy Transition Partners. The transaction is valued at approximately $7 billion in enterprise value, including an equity value of $3 billion. Aypa’s portfolio comprises 6.5 GW of operating, under-construction and contracted battery storage projects. This is supported by a development pipeline exceeding 20 GW across the US and Canada.
In June 2026, Mitsubishi HC Capital and Brookfield Asset Management formed a joint venture to acquire and operate a diversified portfolio of contracted renewable energy assets across Europe. The seed portfolio comprises approximately 570 MW of operating renewable energy capacity in the UK, Spain, Sweden, Finland, France, and Ireland, with an equity value of around €400 million.