Brookfield, a Canadian asset management firm, is set to invest over $ 6 billion (INR50,000 crore) in the Indian state of Andhra Pradesh, providing a significant boost to the country’s renewable energy sector. This investment, planned to be executed over the next three to five years, is expected to become the largest foreign investment in the country’s clean energy industry.
The ambitious plan involves the addition of up to 8.66 gigawatts of wind and solar power assets through Brookfield’s Evren platform. The investment plans were discussed during a meeting between Andhra Pradesh Chief Minister N Chandrababu Naidu and Brookfield’s top executives on 20 August.
Following the meeting, Chief Minister Naidu took to the X platform, formerly known as Twitter, to share the news. “Met with the managing director of Brookfield’s renewable power and transition group, Mr. 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. Andhra Pradesh has the potential to lead in sustainable energy and pave the way for a greener future,” Naidu stated.