Brookfield sells 1.6 GW of renewable assets to Malaysia's Gentari

Brookfield Asset Management, a global investment firm headquartered in New York and its affiliates sold 1.6-gigawatt (GW) of solar and wind assets in India to Malaysian clean energy company Gentari. The deal was announced in a settlement on March 5.

Brookfield has not disclosed the deal size but confirmed that the asset sale to Malaysian clean energy firm is structured in two phases. The first phase, involving the sale of 1 GW of operational renewable energy assets, has been completed. The company noted that this marks its first full-cycle portfolio monetization in India under its renewable power and transition business.

Gentari has been rapidly growing in India's clean energy sector through both greenfield developments and acquisitions of existing projects.

"This transaction with Gentari reinforces investor confidence and unlocks new opportunities for further capital allocation in the country. With approximately 40 GW of wind and solar assets across various stages, our overall portfolio reflects our long-term commitment in India," Nawal Saini, Managing Director, Head of Renewable Power & Transition, South Asia and the Middle East, Brookfield said in the statement.

India is targeting 500 GW of non-fossil fuel energy capacity by 2030 as part of its strategy to reduce emissions and transition towards a cleaner, more sustainable energy future.