IFC Funds Brookfield's 550-MWp Solar Project in India

• Brookfield Asset Management shines bright in India with a 550-MWp solar park project in Rajasthan, backed by USD 105 million funding from the International Finance Corporation.

Brookfield Asset Management has secured funding from the International Finance Corporation to build a 550-MWp solar park in India's Rajasthan state. The Canada-based group will receive USD 105 million through long-term non-convertible debentures for the project in Bikaner, which will generate electricity for commercial and industrial consumers across India.

The solar farm will be connected to India's inter-state transmission system and is expected to contribute to the country's goal of increasing its non-fossil fuel capacity to 500 GW by 2030. Brookfield plans to expand its renewable energy footprint in India, focusing on both state utility and commercial and industrial segments in the country.

How will Brookfield Asset Management's solar park in Rajasthan impact India's renewable energy goals?

• The 550-MWp solar park in Rajasthan will significantly contribute to India's renewable energy goals by adding a substantial amount of non-fossil fuel capacity to the country's energy mix.
• By connecting the solar farm to India's inter-state transmission system, the electricity generated can be distributed to commercial and industrial consumers across the country, helping to meet the growing energy demand.
• The funding secured from the International Finance Corporation will support the development of the solar park, showcasing the importance of international partnerships in achieving India's renewable energy targets.
• Brookfield Asset Management's focus on expanding its renewable energy footprint in India, particularly in the state utility and commercial and industrial segments, will further drive the adoption of clean energy sources in the country.
• The project in Bikaner, Rajasthan, demonstrates the potential for large-scale solar developments in India, encouraging other investors and developers to invest in renewable energy projects in the country.