Brookfield Asset Management is seeking to acquire international green power projects at reduced prices, Bloomberg reported.

According to the wire service, Toronto-based Brookfield plans to capitalize on reduced valuations in the renewable energy sector. Natalie Adomait, managing partner of renewable power and transition group, told Bloomberg that the company is looking for equity investments of about $1 billion.

Brookfield Asset Management is Brookfield Corporation’s global real estate investment arm. Earlier this year, Brookfield raised $10 billion for an energy-transition fund and $2.4 billion for a similar fund focused on emerging markets,

The company sees opportunities around the world “to acquire renewable developers or maybe a big utility,” Adomait told her interviewer on the sidelines of a conference in London.

The acquisition quest comes after Brookfield purchased a majority stake in French renewable-firm Noen SA earlier this year, and problems in the offshore wind sector, including high interest rates and supply-chain pressures drove public renewable-power company share prices downward.

“Did that [latter situation] create a buying opportunity? Yes, absolutely,” Adomait told Bloomberg. “We were able to see underlying value on the ground hadn’t changed. Fundamentals were steady, demand still strong.”

Adomait also pointed to India as one of the most promising markets for renewables investment. Brookfield plans to increase its assets under management in the country to US$10 billion from US$3 billion, according to Adomait.

“That market is booming and the government has really unlocked investment opportunities for international investors,” she told Bloomberg.