Brookfield Is Looking For Direct Acquisition In Indian Renewable Space

Canada’s Brookfield Asset Management Inc is a leading global investor in renewable power, with 18,000 MW of generating capacity and $47 billion worth of assets under management.

It is among the contenders for buying more than 1,000-MW renewable energy assets of debt-laden infrastructure development and finance company Infrastructure Leasing & Financial Services (IL&FS).

Brookfield is now planning to make first direct acquisition in the renewable energy space in India.

It is set to acquire two wind farms from Hyderabad-based Axis Energy Ventures for Rs 500 crore.

Axis Energy Ventures India is the flagship company of Axis Energy Group and engaged in the development of renewable and clean energy projects. It has committed to develop 12,500 MW of renewable energy projects by FY22, including 6,500 MW of projects in Andhra Pradesh.

The addition of Axis Energy’s two wind farms totalling 210 MW will take Brookfield’s total renewable portfolio in the country to 510 MW.

In 2017, it acquired US renewable energy company SunEdison’s solar yieldco TerraForm Global Inc, which gave Brookfield a 300 megawatt portfolio of renewable assets in India.

This is a Syndicate News-feed