Brookfield to Invest INR 50,000 Crore in Andhra Renewable Energy
Brookfield plans over INR 50,000 crore investment in Andhra Pradesh's renewable sector, adding 8.66 GW of wind and solar capacity, with potential expansions in advanced technologies.
August 21, 2024. By EI News Network
Recently, Brookfield’s senior executives, including Nawal Saini, Managing Director of the Renewable Power and Transition Group, met with Andhra Pradesh Chief Minister N. Chandrababu Naidu to discuss the details of this investment. The proposed plan includes installing approximately 1.4 GW of solar capacity by 2026, with additional installations of 828 MW in 2027 and 1.3 GW in subsequent years. In the wind sector, Brookfield plans to deploy 1.64 GW by 2026, 204 MW by 2027, and an additional 3.3 GW thereafter.
In addition to expanding renewable energy capacities, Brookfield is exploring investments in advanced technologies such as solar module manufacturing and pumped storage systems within the state. Chief Minister Naidu expressed enthusiasm about the investment, highlighting Andhra Pradesh’s potential to lead in sustainable energy development and contribute to a greener future.
It may be noted that their flagship listed renewable power company, Brookfield Renewable, has a diverse portfolio of hydroelectric, wind, utility-scale solar, and storage facilities across North America, South America, Europe, and Asia. It manages approximately 32,800 MW of installed renewable energy capacity. As per the firm, it has further plans to expand by around 155,400 MW.
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