Brookfield Announces Sale Of 1.6 GW Of Renewable Assets To Gentari

New Delhi, Mar 5 (PTI) New York-based asset management firm Brookfield on Wednesday announced the sale of 1.6 GW portfolio of solar and wind assets in India to Gentari Renewables India for an undisclosed sum of money.

The sale will be structured in two phases, Brookfield Asset Management Ltd said in a statement.

“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 and transition business.”

It, however, did not give financial details of the sale.

Brookfield is one of the world’s largest investors in renewable power, with about 46 gigawatts of installed capacity and a development pipeline of about 200 GW. In India, its renewable power and transition portfolio comprises 40 GW of wind and solar assets in operation, construction and/or development across leading 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. 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 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.