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Brookfield Asset Management is looking to divest its 550 MW solar power project in Bikaner, Rajasthan, with an estimated enterprise value of around INR 3,000 crore. The asset is fully operational and backed by long-term power agreements, making it attractive to both domestic and global investors. The move is part of Brookfield's strategy to recycle capital from stable assets and invest in emerging energy segments. The deal reflects growing investor interest in India's renewable energy sector, especially in commercial and industrial power supply projects.
Brookfield Asset Management is planning to sell its 550 MW solar power project in Bikaner, Rajasthan, with the transaction expected to be valued at nearly INR 3,000 crore. The company is looking to monetise the asset as part of its ongoing strategy to recycle capital from operational projects and redeploy funds into newer opportunities within the energy transition space. Advertisement
The Bikaner project is a large-scale, grid-connected solar asset that has been developed in phases and is fully operational. It supplies electricity primarily to commercial and industrial consumers through long-term power purchase agreements, while also having exposure to the merchant power market. Its location in Rajasthan, which has one of the highest solar irradiation levels in the country, supports stable generation and consistent performance, making it a strong asset for potential buyers.
The asset has received financial backing from global institutions, including funding support of around USD 105 million from the International Finance Corporation. This institutional participation has added credibility to the project and improved its bankability in the secondary market. Market sources indicated that both domestic and international investors have shown interest, as demand for operational renewable assets continues to rise.
India's commercial and industrial renewable energy segment has been expanding steadily, driven by corporates seeking cleaner power sources and cost stability. This segment now forms a key part of the overall renewable energy market, with increasing adoption across sectors such as manufacturing, data centres and services. The Bikaner asset fits well within this demand profile due to its operational track record and contracted capacity.
Brookfield has been actively reshaping its renewable portfolio in India over the past few years. The company has previously exited large renewable portfolios, including a 1.6 GW platform, following a similar approach of monetising mature assets. The capital released from such transactions is typically redirected towards areas such as electric mobility, energy storage and green hydrogen, where long-term growth potential remains high.
The broader renewable energy sector in India has been witnessing steady deal activity, with global investors looking to acquire stabilised assets that offer predictable returns. At the same time, developers are increasingly using asset sales as a way to fund new projects. This trend is expected to continue as India pushes towards its clean energy targets and expands its renewable capacity significantly over the coming years.
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