Brookfield to invest $5 billion in clean energy sector in A.P.

Evren, a clean energy platform promoted by Brookfield and Axis Energy, has committed to invest US $5 billion in Andhra Pradesh (AP) during a late-night meeting with Chief Minister N. Chandrababu Naidu and Energy Minister Gottipati Ravi Kumar on Tuesday. 

According to an official release, Evren is creating 3,500 MW of solar and 5,500 MW of wind assets in a phased manner, out of which 3,000 MW of projects have already been grounded. 

The company unveiled it’s investment plans spanning integrated module manufacturing, pumped storage, battery storage, e-mobility/electric vehicle and green ammonia space. 

Brookfield has established a robust partnership with Axis Energy Ventures India Private Limited, a clean technology company with over a decade of expertise in renewable energy project implementation in 2019 and have successfully developed over 1.80 GW of solar and wind assets. 

Evren is a 51:49% holding company set up by Brookfield and Axis Energy with a commitment to advance clean energy investments in the country.

Brookfield Managing Directors Nawal Saini and Murzash Manekshana along with Evren Chairman Ravi Kumar Reddy, CEO Suman Kumar, Axis CEO Sri Murali and senior vice-president D.V.V. Satya Prasad were present in the deliberations with the Chief Minister.