Brookfield to invest over ₹50,000 cr in renewable energy sector in AP

Vijayawada : Brookfield, a global owner and operator of real assets, has proposed to invest over Rs 50,000 crore in Andhra Pradesh in the next three to five years in renewable energy, focusing on wind and solar formats.

A delegation from the Canadian company and its Indian partners met Chief Minister N Chandrababu Naidu and energy minister Gottipati Ravi Kumar on Tuesday in Amaravati and proposed to build the renewable energy projects.

“Evren, a Brookfield and Axis Energy promoted clean energy platform has committed to invest in the state of Andhra Pradesh during a late night meeting on Tuesday with Chief Minister N Chandrababu Naidu and energy minister G Ravi Kumar,” said a press release from the energy minister’s office on Wednesday.

In a post on micro-blogging site X, the CM noted that the Canadian company, Brookfield, which manages global assets worth USD 1 trillion expressed keen interest in the southern state’s renewable sector.

“Met with Managing Director of Brookfield’s renewable power and transition group, Nawal Saini today (Tuesday). A leading investor in green initiatives, Brookfield has expressed a keen interest in investing in our state’s renewable energy sector, particularly in solar, wind, and rooftop energy,” said Naidu.

Speaking on this occasion, energy minister Ravi Kumar stated that the Andhra Pradesh government is implementing investor-friendly policies to promote transparency and ease of doing business for investors and the public. He emphasised that the government is committed to providing a favourable environment for investment. He highlighted that Andhra Pradesh offers ample opportunities for new ventures, job creation and sustainable development, particularly in the energy sector. He noted that the state is well-positioned for renewable energy production, with abundant solar and wind energy resources. The minister also said that the government is already taking steps to establish solar parks, rooftop solar systems, and pumped hydro storage projects.

Evren has committed to create 3,500 mw of solar and 5,500 mw of wind assets in the state in a phased manner out of which 3,000 mw of projects are already grounded in the state and committed to be commissioned by end of 2026. The company has investment plans beyond renewables and are exploring additional opportunities in the state, across integrated module manufacturing, pumped storage, battery storage, E-mobility/EV and green ammonia space.