Prior notification of a concentration (Case M.12179 – TEMASEK / BROOKFIELD / LUMINACE) – Candidate case for simplified procedure
Date: 2025-10-09
Institutions: Directorate-General for Competition, European Commission
Subjects: Canada, United States, carbon neutrality, economic concentration, electrical energy, electricity storage device, electricity supply, energy production, investment company, merger control, solar collector








C_202505508EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/5508


9.10.2025






Prior notification of a concentration
(Case M.12179 – TEMASEK / BROOKFIELD / LUMINACE)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/5508)


1.   
On 1 October 2025, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Temasek Holdings (Private) Limited (‘Temasek’, Singapore),










—


Brookfield Asset Management Ltd. (Canada), controlled by Brookfield Corporation (‘Brookfield’, Canada),










—


Luminace Aggregator, LLC, Karta DevCo, LLC and Luminace TF Aggregator, LLC (together ‘Luminace’, United States), currently controlled by Brookfield.




Temasek and Brookfield will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Luminace.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Temasek is an investment company with a global portfolio covering a broad spectrum of industries: transportation, industrials, financial services, telecommunications, media and technology, consumer, real estate, life sciences as well as agri-food,










—


Brookfield is a global investment firm that deploys pools of discretionary capital globally for investors across its core businesses, including its asset management business and its operating businesses focused mainly on renewable power and transition, infrastructure, private equity, and real estate.






3.   

The business activities of Luminace are the following: development, construction, ownership and operation of distributed generation solar and battery facilities, as well as providing other ‘decarbonization-as-a-service’ solutions (e.g., electric vehicle charging infrastructure) to commercial, industrial and public sector customers exclusively in the U.S and Canada.



4.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


5.   
The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.12179 – TEMASEK / BROOKFIELD / LUMINACE
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2025/5508/oj
ISSN 1977-091X (electronic edition)