Illustration: Aïda Amer/Axios
KKR and Brookfield are investing big money to expand clean energy in India.
Why it matters: India is seeing breakneck demand for electricity. Green power that can keep pace can't come soon enough.
The latest: KKR this morning announced it's investing $250 million in Serentica Renewables, an energy-management firm that incorporates green power for commercial and industrial clients.
- KKR invested $400 million in the New Delhi-based company last November.
Meanwhile, Brookfield Renewable, a unit of the investment management group, said last week it would invest $1 billion in renewables developer Avaada Group.
- Brookfield's investment is aimed at expanding Avaada's green hydrogen and solar-module production capacity, as well as ammonia and hydrogen investments that are especially suited to industrial sectors, per PV Tech.
Be smart: The Indian market is rapidly expanding, with no end to energy demand anywhere in sight. And unlike the U.S. and its ongoing trade disputes with China, there are no shortage of places to buy materials from.
- India's renewables sector ranked in the top five industries for overseas investment last fiscal year, per Reuters.
Of note: India's government is aiming to cut the emissions intensity of the country's GDP by 45% by 2030.
Go deeper: "Investment in renewable energy additions and in energy efficiency measures will need to scale up considerably if India is to meet the government’s ambitions," the Organisation for Economic Co-operation and Development reported in October.
