Canada based firm Brookfield Asset Management Inc is gearing up to acquire Hyderabad-based Axis Energy’ two wind farms for INR 500 crore, reports ET citing sources.
When acquired this will be Brookfield’s first direct acquisition in the renewable energy space in India. The firm back in 2017 acquired SunEdison’s solar yieldco TerraForm Global Inc, which gave it a 300 MW portfolio of renewable assets in India.
With the acquisition of the two wind farms from Axis Energy which sums up to 210 MW Brookfield will have renewable portfolio of 510 MW in India.
Brookfield is among the contenders for buying more than 1,000-MW renewable energy assets of debt-laden infrastructure development and finance company IL&FS.
Axis Energy Ventures India flagship company of Axis Energy Group has committed to develop 12,500 MW of renewable energy projects by FY22, including 6,500 MW of projects in Andhra Pradesh.