Brookfield's Multi-Billion Investment Surge in Andhra Pradesh's Renewable Energy Sector

Brookfield, a global real assets operator, plans significant investments in Andhra Pradesh's renewable energy over the next few years. Collaborating with Axis Energy Group under Evren, they aim to expand solar and wind capacities, generating employment and ensuring sustainable energy development. The projects focus on the Rayalaseema region.

Brookfield, a global owner and operator of real assets, announced a substantial investment plan in Andhra Pradesh's renewable energy sector. This initiative will take place over the next three to five years, focusing on expanding wind and solar energy formats.

A Canadian delegation met Andhra Pradesh Chief Minister N Chandrababu Naidu in Amaravati on Tuesday, proposing to develop these renewable energy projects, a state government official confirmed. While the exact investment amount remains undisclosed, K Ravi Kumar Reddy, chairman of Evren—a joint venture between Brookfield and Axis Energy Group—revealed plans to invest over Rs 50,000 crore in the coming years. By 2026, Evren aims to install 1,380 MW of solar and 1,640 MW of wind power capacity.

Furthermore, Reddy highlighted the joint venture's ambition to expand capacity with 828 MW of solar and 204 MW of wind energy by 2027, and additional projects beyond 2027. These initiatives will largely be concentrated in the Rayalaseema region. Reddy underscored the commitment to land procurement and the employment potential, noting that every megawatt can generate one job. The company has also gathered extensive wind data over four years to ensure project viability.

(With inputs from agencies.)