Brookfield Exits Rajasthan Renewable Energy Solar Asset in ₹30 Billion Deal

Brookfield Asset Management has initiated the sale of its 550 MW solar project in Bikaner, Rajasthan, in a deal valued at approximately ₹30 billion (around $360 million), marking a significant move in India’s renewable energy sector. The transaction, being managed by Jefferies, has already attracted strong interest from both domestic and global investors.

The divestment reflects Brookfield’s strategy to recycle capital from mature assets and reinvest in high-growth opportunities aligned with India’s energy transition goals. The project is valued at nearly ₹54.5 million per megawatt, in line with prevailing global benchmarks of $0.6–0.8 million per MW.

Capital Recycling Drives Brookfield’s India Strategy

The solar project previously received $105 million in funding support from the International Finance Corporation, highlighting its strong fundamentals and bankability. Brookfield currently manages nearly $30 billion in assets across infrastructure, real estate and private equity in India, with plans to scale this portfolio to $100 billion.

The sale aligns with Brookfield’s broader push to strengthen its presence in emerging sectors such as green hydrogen, electric vehicles, and clean energy infrastructure, backed by its $20 billion Global Transition Fund II. Notably, around 10 percent of its earlier fund was deployed in India, underlining the country’s growing importance in global clean energy investments.

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C&I Renewable Energy Sector Gains Momentum

The deal comes amid rapid expansion in India’s commercial and industrial renewable energy (C&I) market, which accounts for over half of the country’s electricity demand. The sector is projected to reach 57 GW by 2027–28, up from an estimated 40 GW by 2025–26.

Growth is being fuelled by rising corporate net zero commitments, favourable long-term power purchase agreements, and supportive policies such as the Green Energy Open Access Rules. However, analysts caution that increasing competition in the C&I segment may put pressure on future valuations.

Globally, Brookfield manages assets exceeding $1.18 trillion, including $603 billion in fee-earning assets as of late 2025. The company has also previously divested a 1.6 GW solar and wind portfolio in India, signalling a consistent approach towards portfolio optimisation in the fast-evolving Indian renewable energy market.