.jpg)
1 hour ago
3
Article content
(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 ONLY
Subscribe 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 ARTICLES
Subscribe 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 ARTICLES
Create 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 account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
One 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.
Article content
Article content
Article content
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.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The 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.
Article content
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.
Article content
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.
Article content
“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.”
Article content
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.
Article content
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.
Article content
English (US)