Brookfield & ALT?RRA unveil $5 billion catalytic fund for markets
ECONOMY & POLICY

Brookfield & ALT?RRA unveil $5 billion catalytic fund for markets

Brookfield Asset Management and ALT?RRA Management Limited have announced the launch of the Catalytic Transition Fund (CTF), a ground-breaking initiative aimed at directing up to $5 billion toward clean energy investments in emerging markets. The fund, supported initially by a $1 billion commitment from ALT?RRA, is expected to achieve its first round of financing by the close of 2024.

Focused on clean energy and transition assets in developing regions, where current global clean energy investments are below 15%, CTF addresses a critical gap identified in the Paris Agreement. Mark Carney, Chair and Head of Transition Investing at Brookfield, highlighted the fund's strategic importance, describing it as a private sector solution to the challenge of enhancing transition investments in emerging markets.

Nawal Saini, Managing Director, Renewable Power & Transition at Brookfield, stated, "Emerging markets require $1.6 trillion annually to meet their decarbonization targets aligned with the Paris Agreement."

H.E. Majid Al-Suwaidi, CEO, ALT?RRA, reiterated their commitment to accelerating climate action, mentioning, "We must significantly scale up our efforts to achieve collective climate objectives. Our investments in the Catalytic Transition Fund highlight our commitment to exceeding conventional business practices."

The fund's investment strategy encompasses South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe. Brookfield alone intends to contribute at least 10% of the fund's total capital. This extensive geographic focus includes substantial investments in countries like India, recognised for their robust policy frameworks supporting clean energy transitions. (Source: ET)

Brookfield Asset Management and ALT?RRA Management Limited have announced the launch of the Catalytic Transition Fund (CTF), a ground-breaking initiative aimed at directing up to $5 billion toward clean energy investments in emerging markets. The fund, supported initially by a $1 billion commitment from ALT?RRA, is expected to achieve its first round of financing by the close of 2024. Focused on clean energy and transition assets in developing regions, where current global clean energy investments are below 15%, CTF addresses a critical gap identified in the Paris Agreement. Mark Carney, Chair and Head of Transition Investing at Brookfield, highlighted the fund's strategic importance, describing it as a private sector solution to the challenge of enhancing transition investments in emerging markets. Nawal Saini, Managing Director, Renewable Power & Transition at Brookfield, stated, Emerging markets require $1.6 trillion annually to meet their decarbonization targets aligned with the Paris Agreement. H.E. Majid Al-Suwaidi, CEO, ALT?RRA, reiterated their commitment to accelerating climate action, mentioning, We must significantly scale up our efforts to achieve collective climate objectives. Our investments in the Catalytic Transition Fund highlight our commitment to exceeding conventional business practices. The fund's investment strategy encompasses South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe. Brookfield alone intends to contribute at least 10% of the fund's total capital. This extensive geographic focus includes substantial investments in countries like India, recognised for their robust policy frameworks supporting clean energy transitions. (Source: ET)

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000