Brookfield Asset Management is selling a 1.6-GW wind and solar portfolio in India to Gentari Renewables in a two-phase deal for an undisclosed amount.
With the transaction, Gentari Renewables India has acquired Brookfield’s stakes in 21 special purpose vehicles (SPVs) and their holding companies, following the Competition Commission’s clearance of the deal.
Brookfield has completed its first full-cycle portfolio monetization in India for its renewable power and transition business, with the first phase of the deal already completed.
These entities generate and distribute power from wind and solar photovoltaic (PV) parks.
According to market reports, Brookfield, which has over $1 trillion (EUR 935.3bn) of assets under management, has roughly 40 GW of wind and solar assets at various stages of development in India.
Globally, Brookfield is one of the largest investors in renewable energy, with an installed capacity of approximately 46 GW and a development pipeline of 200 GW. Its renewable assets span North and South America, Europe, and Asia Pacific, covering hydroelectric, wind, utility-scale solar, and storage facilities.
Gentari, formed in 2022, has been rapidly expanding in India’s clean energy sector through greenfield capacities as well as through acquisition of existing projects. It is currently operating at its full peak capacity of 1800 MW and has 230 MW of utility-based projects.
“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,” Nawal Saini, Managing Director, Head of Renewable Power & Transition, South Asia and the Middle East, Brookfield, said in the statement.
