India's renewable energy sector is experiencing a significant transformation, presenting increasing opportunities for the creation of platforms to meet the country's growing demand for energy assets. Nawal Saini, Managing Partner and Head of Renewable Power & Transition for South Asia and the Middle East at Brookfield Asset Management, stated that Brookfield possesses the operational capability to develop such platforms and is consistently seeking innovative approaches to decarbonization. He expressed optimism about establishing another platform in the near future.
Brookfield has been actively expanding its presence in India's renewable energy space. The company entered the Indian market in 2017 and has since built a substantial portfolio of over 25 GW, encompassing operational, under-construction, and late-stage projects. Of this, 8 GW are operational assets, a significant increase from 300 MW at the end of 2017. This makes Brookfield the second-largest renewable energy business in the private sector in India.
Brookfield's commitment to the Indian market is evident in its investment targets. The company aims to more than triple its renewable energy assets under management in India to over $10 billion within the next three to four years. As of June 2024, its assets under management (AUM) were close to $3 billion. Brookfield is deploying more capital into its existing platforms to reach this goal and is also open to incremental growth through mergers and acquisitions.
In line with this expansion strategy, Brookfield has made several key investments in the Indian renewable energy sector. In 2023, it acquired a 51% stake in CleanMax Enviro with an equity investment of Rs 3,000 crore. Brookfield is also reportedly set to acquire a controlling stake in commercial and industrial (C&I) platform Leap Green Energy for $500 million. Furthermore, Brookfield, through its Evren platform, plans to invest over INR 50,000 crore in Andhra Pradesh's renewable energy sector over the next three to five years, aiming to add 8.66 GW of wind and solar capacity. This includes installing approximately 1.4 GW of solar capacity by 2026, with additional installations of 828 MW in 2027 and 1.3 GW in subsequent years, as well as deploying 1.64 GW in the wind sector by 2026, 204 MW by 2027, and an additional 3.3 GW thereafter.
Brookfield invests in the Indian renewable space through the Brookfield Global Transition Fund (BGTF I), a $15 billion fund raised in 2022 and fully deployed. The company is currently raising a second fund, BGTF II, which is projected to be as much as $17 billion. Approximately 10% of BGTF I has been deployed in India, and more is expected to be deployed from BGTF II.
While expanding its portfolio, Brookfield has also demonstrated its ability to create value through strategic asset sales. In March 2025, the company announced the sale of a 1.6-gigawatt portfolio of solar and wind assets in India to Gentari Renewables India for an undisclosed sum. The first phase of the sale, comprising 1 GW of operating assets, has been completed, marking Brookfield's first full cycle portfolio monetization in India for its renewable power and transition business.
Nawal Saini emphasized that Brookfield's focus is on delivering value to its stakeholders while advancing India's energy transition. He added that monetizing a part of their portfolio demonstrates their ability to create and realize value and that Brookfield's overall portfolio reflects its long-term commitment to India.
