In a significant development within India’s renewable energy sector, prominent players including Actis Llp’s BluPine Energy, Singapore’s Sembcorp Industries Ltd, Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy, Torrent Power, and JSW Group are reportedly exploring the acquisition of Brookfield Renewable’s 1.6 gigawatt (GW) portfolio in India.
According to sources familiar with the matter, the deal is anticipated to carry an equity value of approximately $800 million. JP Morgan has been entrusted with the responsibility of overseeing the sale process for the 1.6 GW capacity, with 1 GW already operational and the remaining 600 MW under execution. Notably, Canada’s Brookfield Asset Management Inc. holds a significant presence in India’s green energy landscape, with its Brookfield Global Transition Fund (BGTF) committing $1 billion to invest in Avaada Ventures Pvt. Ltd.
Brookfield Renewable’s strategic initiatives in India extend beyond asset acquisition. Last year, the company acquired a controlling stake in rooftop solar power producer CleanMax Enviro Energy Solutions Pvt. Ltd for $360 million. Additionally, Brookfield Asset Management has collaborated with Reliance Industries Ltd, led by Mukesh Ambani, to explore opportunities for manufacturing renewable energy and decarbonisation equipment in Australia. The growing interest in Brookfield’s Indian renewable energy portfolio underscores the attractiveness of the country’s clean energy market for both domestic and international investors. With India’s ambitious renewable energy targets and favourable policy environment, such investments align with the nation’s transition towards sustainable and low-carbon energy sources. As the sale process progresses, stakeholders will closely monitor developments in the renewable energy sector, anticipating further consolidation and strategic partnerships that will shape the future trajectory of India’s energy landscape.
