
29 May 2024
Malaysia's renewable energy champion, Gentari Sdn Bhd, is leading the race to acquire a massive solar power portfolio in India being sold by Brookfield Asset Management!
Gentari Eyes Sun Power in India
Front-Runner Status:Â Â Gentari, the green energy arm of Petronas, is in pole position to buy a chunk of Brookfield's India solar assets.
Exclusive Talks Secured:Â Â After due diligence, Gentari has signed an exclusivity agreement to negotiate further with Brookfield.
Bidding War Heats Up
Million-Dollar Assets:Â Â Brookfield's India solar portfolio is estimated to be worth between $800 million and $1 billion.
Other Contenders Out:Â Â Sekura Energy, Sembcorp, and Masdar Energy were initially interested but have pulled out.
Portfolio Powerhouse
Halfway There:Â Â 1 GW of the solar assets are already operational, with another 1 GW under construction (to be completed in 18 months).
Pan-India Presence:Â Â Brookfield's India portfolio boasts assets across various states, including Rajasthan, Gujarat, Madhya Pradesh, and South India.
Brookfield's Big Bet
Cashing In on Green:Â Â Canadian investor Brookfield is looking to partially sell its India renewable energy assets after entering the market five years ago.
Infrastructure Giant:Â Â Brookfield is a major player in India's infrastructure sector, with investments exceeding $25 billion.
India's Renewable Energy Boom
Sun Shines Bright:Â Â India's renewable energy sector is witnessing explosive growth, with installed capacity projected to reach 170 GW by March 2025.
Gentari's Potential Win:Â Â If successful, this deal would solidify Gentari's position as a key player in India's booming green energy market.
Gentari's bid for Brookfield's India solar portfolio highlights the growing importance of renewable energy in Asia's economic giant. This deal could be a game-changer for both companies, shaping the future of clean energy in India.