Brookfield Bets on Grid-Ready Indian States for Green Investment

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessBrookfield Bets on Grid-Ready Indian States for Green InvestmentBrookfield Asset Management Ltd. will channel renewable energy investments in India into states with robust transmission networks as grid bottlenecks in some regions are stifling wind and solar generation.Author of the article:Rajesh Kumar Singh, Ranjani Raghavan and Ishika Mookerjee You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Brookfield Asset Management Ltd. will channel renewable energy investments in India into states with robust transmission networks as grid bottlenecks in some regions are stifling wind and solar generation.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountOne of the Canadian private equity firm’s platforms plans to scale up investments in wind projects in southern India, where generation and transmission capacities are better aligned, Nawal Saini, head of India energy at Brookfield, told reporters on Tuesday. Some other platforms are supplying electricity directly to industrial customers through state grids, where curtailments are rare, he added.Investments in grid infrastructure have lagged behind the boom in renewable generation globally, leaving energy systems unable to absorb all the electricity produced. The resulting excess power is impeding new installations. In India, states in the northern and western parts have struggled to build grid networks that match the expansion in solar energy.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe South Asian nation wasted 300 million units of renewable power in the first quarter this year as a result of grid congestion, according to energy research group Ember. The loss was about 0.4% of the total green generation in the three-month period. The states of Rajasthan and Gujarat in the west accounted for the bulk of the surplus output, while the southern India absorbed almost all of its green power, Ember’s May report showed.The grid curtailments have affected Brookfield’s renewables business, but the company sees the issue as temporary, Saini said at a virtual press briefing. Brookfield currently has about 12 gigawatts of renewable energy in operation across its portfolio, and is working to expand it to 45 gigawatts.“It does impact the business, but not so materially that it kills the business case,” he said. “Long-term cash flows are generally OK and protected.”The private equity firm is also bullish on India’s growing demand for real estate and digital infrastructure such as data centers, as the economy rapidly urbanizes.Installed AI data center capacity in the country could grow fourfold to six gigawatts over the next five years, Arpit Agrawal, head of India infrastructure at Brookfield, said during the same briefing.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.