Connect with us

Hi, what are you looking for?

CleanTechnica

Green Economy

Brookfield Renewable Energy Partners Eye Stake In Indian Project Developers

Brookfield Asset Management is planning a re-entry into the Indian renewable energy market following changes in the regulatory and financial environment.

According to media reports, a subsidiary of Brookfield Asset Management is evaluating investment opportunities in Indian renewable energy project developers. Brookfield Renewable Energy Partners is reportedly looking to acquire an equity stake in companies including Mytrah Energy and Leap Green Energy.

A few years back, Brookfield entered into a joint venture with India’s largest power generating company, NTPC Limited, GE Energy Financial Services, Asian Development Bank, and Kyushu Electric Power, to develop 500 MW of renewable energy capacity in India. The company subsequently exited the joint venture following the economic crisis of 2008-09.

Mytrah Energy is actively looking to expand it’s renewable energy portfolio, and recently raised debt worth $95 million to fund implementation of 100 MW wind energy project. Over the next 5 to 7 years the company has pledged to add 5 GW of wind energy capacity and 2 GW of solar power capacity. The company recently entered into the solar power sector and bagged the rights to develop projects in the southern state of Telangana.

Some of the high-profile investors with stake in Mytrah Energy include Goldman Sachs, Apollo Funds, and Merrill Lynch International, Capital Group, BlackRock, and Henderson.

Leap Green Energy claims to own an installed wind energy capacity of 300 MW, and plans to increase that to 1.5 GW in the “near term”. The company may also expand its presence in solar and hydro power projects.

JP Morgan Asset Management Holdings, the investment arm of JP Morgan Chase, holds 75% stake in the company and is planning to sell half of it for $200 million.

 
Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
 

Written By

Smiti works as a senior solar engineer at a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India.

Comments

You May Also Like

Clean Power

Rail in the US is a case where a huge transportation segment is deeply out of step with the rest of the world, and...

Clean Transport

2022 has been an exciting year for the Indian EV market. Hence it makes sense to take stock of things on where we are...

Cars

Although most vehicular traffic in India is two- and three-wheeled, it is still exciting to see the numbers of four-wheeled personal vehicles going electric...

Cars

As the world accelerates the transition to electric vehicles, it is important for the world’s largest markets to lead the way in terms of...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.