Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Canadian investor Brookfield Asset Management is planning to partially monetise its clean energy assets in India, entering the process five years after venturing into the country's renewable energy sector. The company aims to sell assets with a capacity of about 2 GW, valued at an estimated ₹9,000-10,000 cr ($1-2 bn) enterprise value, including debt. Brookfield currently has approximately 20 GW of wind and solar assets in operation or development across India.
Investment bank JP Morgan has been engaged to oversee the asset sale, with 1 GW of the 2 GW assets already operational. An additional 600 MW of projects are under construction, expected to be completed by the end of the year, and another 500-600 MW may be added in the next two years. The assets to be divested include capacities of 500 MW in Rajasthan, 50 MW in Gujarat, 300 MW in South India, and 80 MW in Madhya Pradesh.
Brookfield has expanded its clean energy portfolio in India through acquisitions and greenfield projects. In 2017, it acquired US renewable energy company SunEdison's solar yieldco TerraForm Global Inc, gaining a 300 MW portfolio of renewable assets in India. In 2019, it entered the Indian renewables space with the direct acquisition of wind farms from Axis Energy Ventures. Additionally, in 2023, Brookfield acquired a 51% stake in CleanMax Enviro.
The Canadian company has been actively investing in India, deploying about $25 bn since entering the market in 2014. Notable infrastructure moves include a ₹25,215-cr investment in Jio Towers, a ₹21,000-cr deal to buy ATC India, and a ₹13,000-cr buyout of East-West Pipeline (formerly Reliance Gas Transportation Infrastructure).
India's renewable energy sector has attracted significant investments, totalling ₹1 lakh cr in the past three years. The installed renewable energy capacity is expected to reach about 170 GW by March 2025, up from 132 GW in October 2023, according to research agency Icra. The country anticipates an over 83% increase in renewable energy investments to approximately $17 bn in 2024, aligning with its focus on energy transition, as stated by Union Minister RK Singh. Other potential deals in the Indian renewable energy space include Shell and Macquarie Group's asset sales, along with Enel's exploration of selling its 750 MW operational assets in the country.
Also Read : L&T bags major gas pipeline project in Middle East Tata Metaliks sets record date of February 6 for merger with Tata Steel
The Government of India has invited bids for the development of off-shore wind energy of a total cap...
Press Releases 02-Feb-2024
Union Minister of Railways, Communications and Electronic and Information Technology, Ashwini Vaishn...
Construction 11-Jan-2024
The demand for Brazilian steel slabs in the U.S. has surged following the recent increase in import...
US 22-Feb-2025
Kirloskar Ferrous Industries Limited (KFIL), a major participant in the Indian castings and pig iron...
Large Corporate 18-Apr-2024
The CEEW Centre for Energy Finance (CEEW-CEF) Market Handbook states that of the 26 GW of new power...
Business 02-May-2024
Steel Authority of India Powers Iconic J&K Rail Bridges The Steel Authority of India Limited (S...
Large Corporate 09-Jun-2025