VIJAYAWADA: Evren, a clean energy platform promoted by Brookfield and Axis Energy, has committed to invest $5 billion in Andhra Pradesh.
Representatives of Brookfield and Axis met Chief Minister N Chandrababu Naidu and energy minister Gottipati Ravi Kumar on Tuesday, following which the announcement to invest in the state was made.
Evren has made a commitment to create 3,500 MW solar and 5,500 MW wind assets in the state in a phased manner. Projects for 3,000 MW have already been grounded and are scheduled to be commissioned by the end of 2026. It plans to invest beyond renewables and is exploring additional opportunities in the state, across integrated module manufacturing, pumped storage, battery storage, E-mobility/EV and green ammonia space.
Evren is a 51:49 holding company set up between Brookfield and Axis Energy with a commitment to advance the clean energy investments in the country.
Speaking on the occasion, Energy Minister Ravi Kumar maintained that the state government is implementing investor-friendly policies to promote transparency and ease of doing business for investors and the public. He emphasised that the government is committed to providing a favourable environment for investors.
Highlighting that Andhra Pradesh offers ample opportunities for new ventures, job creation, and sustainable development, particularly in the energy sector, he noted that the state is well-positioned for renewable energy production with abundant solar and wind energy resources.
Kumar also mentioned that the government is already taking steps to establish solar parks, rooftop solar systems, and pumped hydro storage projects.
An official release said, “These investments would go a long way in contributing to the state’s economic growth through job creation and tax contributions. This investment plan underscores Evren’s commitment to advancing Andhra Pradesh’s energy infrastructure and supporting the global energy transition. It looks at Andhra Pradesh as their key destination for clean energy investments.”