Brookfield Unloads 1.6 GW of Indian Clean Energy Assets

Canadian investment giant Brookfield Asset Management is exploring options to partially monetize its clean energy assets in India, boasting a combined capacity of approximately 1.6 GW with an enterprise value ranging between Rs 9,000-10,000 crore (USD 1-1.2 billion).

Among the existing capacity, one GW is currently operational, and nearly 600 MW is under construction, anticipated to be completed by year-end. Brookfield is also considering the addition of another 500-600 MW of assets, likely to be finalized within the next two years. The assets slated for divestment include capacities of 500 MW in Rajasthan, 50 MW in Gujarat, 300 MW in south India, and 80 MW in Madhya Pradesh.

Brookfield's current clean energy portfolio in India stands at around 20 GW, encompassing wind and solar assets in operation or in various stages of development. Investment bank JP Morgan has been enlisted to oversee the divestment process. The company entered the Indian renewables sector in 2019 through the direct acquisition of wind farms from Axis Energy Ventures for Rs 500 crore.

Since its inception in the Indian market in 2014, Brookfield has deployed approximately USD 25 billion. Some of its notable infrastructure investments include a Rs 25,215-crore investment in Jio Towers, a Rs 21,000-crore acquisition of ATC India, and a Rs 13,000-crore buyout of the East-West Pipeline (formerly Reliance Gas Transportation Infrastructure).

In a diverse portfolio, Brookfield has demonstrated its commitment to India's renewable energy sector through acquisitions and greenfield projects, further solidifying its position as a significant player in the country's infrastructure landscape.

News by Rahul Yelligetti