Brookfield targets USD 10 billion investments in renewable sector
Brookfield Asset Management Inc. is aiming to more than triple investments in India’s renewable energy sector to over $10 billion in the next three-four years. It’s also looking at acquisitions in the segment besides exploring opportunities in electric vehicles (EVs) and green hydrogen. Brookfield is the second-largest investor in India’s green energy assets.
“In terms of size and scale, we are close to $3 billion AUM (assets under management),” Nawal Saini, managing director of Brookfield’s renewable power and transition group, said in an interview.
“We think this will be well over $10 billion in the next three-four years as we deploy more capital in just these existing platforms.”
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“I am not even accounting for incremental growth that will come in through incremental M&A or what we do outside of these platforms,” said Saini.
The Canadian investor has been rapidly expanding in the space in the past few years.
“We have built a business of scale in India in a relatively short time frame, with our platforms collectively having a portfolio of over 25 GW and growing,” Saini said.
“That makes us the second largest renewable business in the country in the private sector.”
The 25 GW portfolio is spread across operational, under-construction and late-stage assets. Operational assets are at 8 GW, up from 300 MW at the end of 2017. Adani Green currently has the largest renewable portfolio of 11 GW operational assets and aims to
