Brookfield Asset Management, a global leader in renewable power and climate transition investments, aims to triple its renewable energy assets under management (AUM) in India to over $10 billion within the next three to four years. This ambitious target underscores Brookfield’s commitment to expanding its footprint in the Indian renewable energy sector, which includes ventures into electric vehicles and green hydrogen.
Brookfield, which began its operations in India in 2017, currently manages close to $3 billion in renewable assets in the country. Nawal Saini, Managing Director of Brookfield’s renewable power and transition group, expressed confidence in reaching the $10 billion mark through strategic capital deployment in existing platforms, not accounting for potential growth from mergers and acquisitions (M&A) or new ventures outside these platforms.
The firm’s current 25 GW portfolio includes 8 GW of operational projects, with the remainder under construction or in late stages of development. Among Brookfield’s significant investments last year was an agreement with Avaada, a prominent renewable energy platform in India, to provide up to $1 billion in convertible securities financing. Avaada plans to use this investment to expand its renewable portfolio and invest in solar panel and green ammonia production.
Additionally, Brookfield committed up to $360 million to acquire a 55% stake in CleanMax, a leading commercial and industrial (C&I) renewable energy platform based in India. These strategic investments are part of Brookfield’s broader objective to support long-term, sustainable wealth creation for its global clientele by leveraging opportunities in India’s growing renewable energy market.
Source: PV-Magazine
