Brookfield to invest Rs 50,000 cr in AP

Investors are keen to invest in the renewable energy sector in Andhra Pradesh. Brookfield, a global owner and operator of real assets, has proposed to invest over Rs 50,000 crore in the State 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 G Ravi Kumar in Amaravati and proposed to build the renewable energy projects.
“Evren, Brookfield and Axis Energy promoted a clean energy platform and committed to invest in AP, during the meeting on Tuesday with the CM and the Energy Minister,” said a release from the Energy Minister’s office.
In a post on micro-blogging site X, the CM noted that the Canadian company, Brookfield, which manages global assets worth $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. 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.
K Ravi Kumar Reddy, chairman, Evren, a joint venture between Brookfield and Axis Energy Group, said that they look to invest over Rs 50,000 crore in the next three to five years in the southern state. Evren aims to install 1,380 MW of solar power capacity and 1,640 MW of wind power capacity by 2026, Reddy said. It already operates 210 MW of wind power assets in Andhra Pradesh. Further, he said that the joint venture envisages adding 828 MW of solar power capacity and 204 MW of wind power capacity in 2027.
It also plans to install 1,311 MW of solar power capacity and 3,300 MW of wind power capacity beyond 2027 with the ambition to achieve 8,873 MW of joint solar and wind capacities in total.
“These projects will mostly come up in the Rayalaseema region. We have to procure land for wind energy projects. We are very committed,” Reddy said, adding that Kurnool and Anantapur could feature in the larger scheme of things. Further, Reddy pointed out that the company has already harvested four years worth of wind data to assess the viability and intensity of wind energy to generate renewable power in the State.
Besides wind and solar projects, the Energy Minister noted that Evren is also exploring investment plans across integrated module manufacturing, pumped storage, battery storage, mobility, electric vehicles and green ammonia.