Public examples, 2024–26
The transactions below are selected foreign investments in Indian renewables announced in 2024–26, as reported by the sources named. They are public examples drawn from secondary press reports, not a complete list and not an endorsement of any investor or counterparty. Platform amounts are deployment plans, not completed projects.
| Company | Home country | What | Where | Value | Date | Source |
|---|---|---|---|---|---|---|
| Brookfield | Canada | Launched Lumara, a renewable platform starting with more than 6 GW of solar, wind and battery storage projects, through its Catalytic Transition Fund | India (multi-site) | About USD 600 million to be deployed | 31 Jul 2026 | ESG News, 31 Jul 2026; Deccan Chronicle, Jul 2026 |
| ALTÉRRA, with Brookfield | UAE (with Canada) | Co-investment in Evren, the Brookfield–Axis Energy platform launched in 2023, to accelerate its 11 GW wind, solar and storage pipeline | India (multi-site) | USD 100 million | 29 Apr 2025 | ESG Today, 29 Apr 2025 |
| Gentari (Petronas group) | Malaysia | Acquired a 1.6 GW solar and wind portfolio from Brookfield in two phases; the first phase, 1 GW of operating assets, is complete | India (multi-site) | About USD 900 million (reported) | 17 Mar 2025 | Power Line, 17 Mar 2025; Legal Business Online, 18 Mar 2025 |
| Sembcorp | Singapore | Completed the 100% acquisition of ReNew Sun Bright, owner of the 300 MW Fatehgarh solar project; Sembcorp’s India capacity installed and under development exceeds 7.6 GW | Fatehgarh, Rajasthan | About SGD 246 million (USD 191.6 million) | 26 Dec 2025 | pv magazine, Dec 2025 |
| TotalEnergies | France | 50% of a 1,150 MW solar joint venture with Adani Green Energy | Khavda, Gujarat | USD 444 million | September 2024 | pv magazine India, 28 Sep 2024 |
What the examples show
- Platforms rather than single projects. Three of the five entries are platform investments (Lumara, Evren and the Gentari portfolio), each with a multi-gigawatt pipeline. The amounts are what the investor plans to deploy, not capital already spent.
- Secondary trades are active. The Gentari acquisition and the Sembcorp purchase both involve operating or near-operating assets changing hands between foreign owners, which depends on the 100% automatic-route position for renewable generation described on the FDI rules page.
- Joint ventures with Indian developers. The TotalEnergies–Adani Green Energy structure at Khavda is a 50% stake in a project vehicle; the Evren platform pairs Brookfield with Axis Energy. Indian counterparties named in the sources (Axis Energy, Adani Green Energy, ReNew Sun Bright) are not foreign investors.
- Named sites. Fatehgarh in Rajasthan and Khavda in Gujarat are the two project locations named; both states appear on the state incentives page.
Note: All entries rely on secondary sources (trade and business press). Deal values marked “reported” or “about” are as the press source gave them and have not been independently verified.
What to check next
- Treat every value above as reported, not audited; confirm transaction terms from the parties’ own announcements before using them as benchmarks.
- For a platform strategy, map the pipeline to the tender calendar on the regulators page, since the brief notes that awards for unviable projects can be cancelled.
- For a secondary acquisition, check the target’s PPA, PSA and GNA status, the three items the brief identifies as the main project risks.
- Screen the ownership chain of any co-investor for land-border beneficial ownership above 10%, which moves the transaction to the government route.