Canada’s Brookfield Asset Management Inc is set to acquire two wind farms from Hyderabad-based Axis Energy Ventures for Rs 500 crore, two people aware of the development told ET.
This would be Brookfield’s first direct acquisition in the renewable energy space in India. In 2017, it acquired US renewable energy company SunEdison’s solar yieldco TerraForm Global Inc, which gave Brookfield a 300 megawatt portfolio of renewable assets in India.
The addition of Axis Energy’s two wind farms totalling 210 MW will take Brookfield’s total renewable portfolio in the country to 510 MW.
A Brookfield spokesperson declined to comment, while a mail sent to Ravi-Kumar Reddy, chairman & MD at Axis Group, did not elicit any response till press time Wednesday. Read More