Brookfield's ₹50K Crore Bet on Andhra Pradesh's Renewable Future

Brookfield, a global leader in renewable energy, has announced plans to invest over ₹50,000 crore in Andhra Pradesh over the next three to five years. The investment, channeled through its Evren platform, aims to add 8.66 GW of wind and solar power projects in the state.

On August 20, 2024, senior executives from Brookfield met with Andhra Pradesh Chief Minister N. Chandrababu Naidu to discuss the ambitious plans. The company, which manages renewable assets worth USD 102 billion globally, is also exploring investments in new technologies such as module manufacturing and pumped storage in the state.

The proposed solar capacity addition includes nearly 1.4 GW by 2026, 828 MW in 2027, and 1.3 GW thereafter. For wind energy, Brookfield plans to add 1.64 GW by 2026, 204 MW in 2027, and 3.3 GW in subsequent years. In total, the state is set to gain nearly nine GW of renewable energy capacity.

This investment highlights Brookfield’s commitment to supporting Andhra Pradesh’s renewable energy goals while also advancing its global sustainability initiatives. With this move, Andhra Pradesh is poised to become a major hub for renewable energy in India, contributing significantly to the country’s green energy transition.

News by Rahul Yelligetti