M&A

M&A

Inox Clean Energy, Purvah Green Power emerge as frontrunners for Brookfield’s Bikaner renewable ener

Economic Times  

Inox Clean Energy and Purvah Green Power, a company owned by the RP-Sanjiv Goenka Group, have emerged as the primary contenders to acquire a 550 MW renewable energy portfolio in Bikaner, Rajasthan, from Brookfield Asset Management.The 550 MW renewable energy portfolio is currently owned by Brookfield Asset Management and provides clean power to various commercial and industrial (C&I) clients across India. Hindustan Unilever and Brookfield Properties are among the notable clients sourcing power from these assets through power purchase agreements. The project, which was supported by the International Finance Corporation (IFC) at the time of its development, is valued at approximately INR 2,500 Cr.Brookfield is currently looking to divest this asset as part of a broader portfolio reshuffle within India. The equity investment for the Bikaner assets was originally facilitated through the first Brookfield Global Transition Fund.

In Jul 2026, Inox Clean Energy had attracted about $ 89 M from Poonawalla Family Office, Others.For FY25, Inox Clean Energy had reported about INR 78 Cr in Operating Income and about INR 26 Cr in PAT.For FY26, Purvah Green had reported about INR 1,098 Cr in Operating Income and about INR 3 Cr in PAT.