Mumbai: Domestic renewable energy companiesInox Clean Energyand RP-Sanjiv Goenka Group-ownedPurvah Green Powerhave emerged as frontrunners to acquireBrookfield Asset Management‘s550 MW renewable energyportfolio in Bikaner, Rajasthan, said people aware of the matter.

The portfolio, which supplies clean power to commercial and industrial (C&I) consumers across India, is expected to fetch an enterprise value of around ₹2500 crore, the people said.

Read more: Inox Wind bags Rs 755-crore turnkey project from Indian Oil Corporation

The project, backed by the International Finance Corporation (IFC), has a diversified base of C&I customers.Hindustan Unileveris among its marquee clients, with a 45 MW power purchase agreement, while Brookfield Properties’ commercial campuses in Gurugram and Noida also source solar power from the portfolio.

ET was the first to report in July that renewable energy companies and infrastructure investors such as Actis, InoxGFL, IndiGrid, RPSG Group, Jindal Renewable Energy, and Macquarie-backed Blueleaf Energy, being in acquisition talks for Brookfield’s Bikaner renewable energy asset.

ET Bureau

A spokesperson for Brookfield declined to comment. InoxGFL andRP-Sanjiv Goenka Groupdidn’t respond to email queries.

The proposed divestment is part of Brookfield’s broader portfolio reshuffle in India. Last year, the firm sold its 1.6 GW solar and wind assets in the country to Gentari Renewables India.

Brookfield Energy has more than 50 GW of renewable energy projects in operation and pipeline in India with assets under management (AUM) of nearly $5 billion. Its overall AUM in India is around $32 billion across infrastructure, energy, real estate and private equity.

The equity investment in the Bikaner portfolio was made through the first Brookfield Global Transition Fund (BGTF I), the firm’s flagship energy transition vehicle.