Global investor Brookfield Asset Management, on Wednesday said it has sold 1.6 GW portfolio of solar and wind assets in the country to Gentari Renewables India, structured in two phases.
Though the investor did not disclose the size of the deal, sources pegged the deal around $900 million.
The first phase, comprising the sale of 1 GW of operating assets, is complete, Brookfield said.
Brookfield’s renewable power portfolio in the country comprises of nearly 40 GW of wind and solar assets in operation, construction and/or development across platforms.
Nawal Saini, managing director, head of renewable power & transition, South Asia and the Middle East, Brookfield said, “Our focus is on delivering value to our stakeholders while advancing the country’s energy transition.”. With nearly 40 GW of wind and solar assets across various stages, our overall portfolio reflects our long-term commitment in India.”
Deals in renewable energy space is rising in the recent quarters.
Recently ONGC Green (ONGPL) signed an agreement to buy Ayana Renewable Power from National Investment and Infrastructure Fund (NIIF), British International Investment and its subsidiaries, and Eversource Capital at an enterprise value of Rs 19,500 crore, or $ 2.3 billion.
In December ,JSW Energy announced the acquisition of O2 Power, a renewable energy platform, in a transaction valued at ₹12,468 crore, marking its largest acquisition since inception.
Brookfield is one of the world’s largest investors in renewable power, with nearly 46 GW of installed capacity and a development pipeline of nearly 200 GW.
Its assets, located in North and South America, Europe, and Asia Pacific comprise a diverse technology base of hydroelectric, wind, utility-scale solar and storage facilities.
Headquartered in New York, Brookfield has with over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit.
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