Brookfield sells 1.6 GW of solar, wind assets in India to Gentari
Brookfield has announced the sale of 1.6 GW portfolio of solar and wind assets in India to Gentari Renewables India (Gentari). The first-phase sale of 1 GW of operating assets is already complete.
Brookfield Asset Management, a global alternative asset manager headquartered in New York, and its affiliates (Brookfield) today announced the sale of 1.6 GW portfolio of solar and wind assets in India to Gentari Renewables India (Gentari).
The selling is structured in two phases. The first phase, comprising the sale of 1 GW of operating assets, is complete. This marks Brookfield’s first full cycle portfolio monetization in India for its Renewable Power & Transition business.
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. Monetizing a part of our portfolio demonstrates our ability to create and realize value. This transaction with Gentari reinforces investor confidence and unlocks new opportunities for further capital allocation in the country. With approximately 40 GW of wind and solar assets across various stages, our overall portfolio reflects our long-term commitment in India.”
Brookfield is one of the world’s largest investors in renewable power, with around 46 GW of installed capacity and a development pipeline of around 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. In India, Brookfield’s renewable power and transition portfolio comprises around 40 GW of wind and solar assets in operation, construction and/or development across leading platforms.
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Based in New Delhi, Uma Gupta has over 15 years of experience in reporting on subjects ranging from semiconductor chips to energy and automation. She has been associated with pv magazine since 2018, covering latest trends and updates from the Indian solar and energy storage market.
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