07:58 AM EDT, 05/17/2024 (MT Newswires) -- Brookfield Asset Management Ltd. ( BAM ) is planning to invest about US$500 million for a majority stake in Indian renewable power firm Leap Green Energy Ltd., according to people familiar with the matter, Bloomberg News is reporting Friday.

If a deal is completed, Toronto-based Brookfield would likely own a majority stake in Leap Green, with the company's founding family and global investor The Rohatyn Group holding the rest, the people said. An investment could boost Leap Green's plans to expand its wind energy capacity in India, the people said.

Brookfield aims to invest in Leap Green via its global transition fund, one of the people said. In February, Bloomberg noted, the firm announced it had raised $10 billion in the first closing of a fund dedicated to investing in areas such as clean energy.

Representatives for Brookfield and Leap Green declined to comment.

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