Business India ×
 Climate Change

Finance
Published on: Sept. 27, 2022, 9:31 p.m.
Brookfield’s clean power initiative
  • Teskey: We very much expect to have a large-scale platform in the region

By Business India Editorial

Brookfield Asset Management Inc. will infuse more than $2 billion into Indian renewable projects to tap the booming clean energy investment opportunity in the fossil fuel-driven economy, it is reported.

The Canadian investment giant has renewable projects of 4 gigawatts in the country and has already invested $1 billion to bring a quarter of that into operation, according to the company. 

Brookfield will add $2 billion over the next 18-24 months to make the remaining capacity operational, said Connor Teskey, chief executive officer for its renewable power business.

India aims to triple its clean power capacity to as much as 500 gigawatts by the end of this decade, a crucial milestone in its goal to achieve net-zero emissions by 2070. The country is currently heavily dependent on fossil fuels, with petroleum fuels being used for most of its transport and 70 per cent of its electricity derived from coal. 

Brookfield’s investments will likely cross $2 billion to fund a bigger expansion of its renewables business in the country. “Given our ambition in the region, if we’re at 4 gigawatts today, we would expect that platform to increase by multiples over the years,” Teskey said. “We very much expect to have a large-scale platform in the region.”

India’s focus on clean energy has drawn interest from other global investors, including private equity firms, sovereign wealth funds and energy companies, such as TotalEnergies SE and Petroliam Nasional Bhd. Brookfield’s expansion will be a mix of acquisitions and new projects, Teskey said.


Airports

Currently Mumbai, Cochin and 25 other airports are using 100 per cent Green Energy

Airports set green deadline

Published on March 24, 2023, 12:01 p.m.

Currently Mumbai, Cochin and 25 other airports are using 100 per cent Green Energy

Government and Policy

Tamil Nadu is banking high on renewable and green energy

TN plans to make RE share 50 per cent by 2030

Published on March 24, 2023, 11:44 a.m.

Tamil Nadu is banking high on renewable and green energy

Renewable Energy

The bloc has also set a goal for carbon capture of 50 million tonnes by 2030

Global green investment to triple by 2030: EC

Published on March 24, 2023, 11:22 a.m.

The bloc has also set a goal for carbon capture of 50 million tonnes by 2030

E-vehicles

The fundraising would be managed by investment bank Goldman Sachs

Ola to raise $300m for expansion

Published on March 24, 2023, 11:03 a.m.

The fundraising would be managed by investment bank Goldman Sachs

E-MAGAZINE

Agriculture

The introduction of black pepper as an inter-crop in the sopari and coconut orchards, has enabled farmers to cultivate crops simultaneously

Skill Development

In 2020-21, the programme reached over 112,482 girls in urban and rural locations across six states in India, including 10,000 across Delhi

Collaboration

The event brought together stakeholders and changemakers to participate in a series of conversations on global trends and recent developments

Healthcare

The programme will focus on educating children on oral health and building awareness around the dangers of tobacco use