Evren Announces $5 Billion Investment in Renewable Energy Development in Andhra Pradesh

Evren, a clean energy platform formed through a joint venture between Brookfield and Axis Energy, has committed to a substantial $5 billion investment to accelerate renewable energy development in Andhra Pradesh. This ambitious initiative aims to significantly enhance the state's renewable energy capacity and drive sustainable growth.

The announcement came following a high-level meeting between representatives of Brookfield and Axis Energy with Andhra Pradesh Chief Minister N. Chandrababu Naidu and Energy Minister Gottipati Ravi Kumar. During the meeting, the parties discussed a strategic roadmap for expanding renewable energy projects and explored various opportunities to enhance the state's energy portfolio.

In addition to solar and wind projects, Evren is keenly exploring diverse opportunities across several sectors in Andhra Pradesh. These include integrated solar module manufacturing, pumped storage solutions, battery storage systems, advancements in e-mobility, and green ammonia production. By diversifying its focus, Evren aims to build a comprehensive and resilient clean energy portfolio in the state.

Evren has set an ambitious target to develop over 6 gigawatts (GW) of renewable energy assets across India’s most resource-rich states within the next two to three years. This goal highlights the joint venture's commitment to fostering India's transition to sustainable energy sources.

The planned investments and developments by Evren are expected to play a crucial role in advancing Andhra Pradesh’s economic growth, energy security, and environmental sustainability goals. By positioning Andhra Pradesh as a leading hub for renewable energy in India, Evren’s initiatives are set to contribute significantly to the state's vision of a greener future.