New Delhi: Brookfield Asset Management (NYSE: BAM, TSX: BAM) today announced its plan to invest $12 billion in Andhra Pradesh’s renewable energy sector over the next three years. This landmark commitment, one of the largest single overseas investments in India’s green energy sector, underscores Brookfield’s confidence in the state’s growth potential and its long-term strategy for India.
The investment is set to span the entire green energy value chain. Brookfield is exploring significant projects, including investments in Indosol’s integrated manufacturing facility, Navayuga’s renewable energy portfolio, and other large-scale manufacturing and green hydrogen projects.
In addition to the $12 billion clean energy commitment, Brookfield is planning further substantial investments in Andhra Pradesh’s real estate and hospitality sectors. These plans include the development of a major satellite township north of Vizag and the establishment of multiple new hotels statewide under its Leela brand.
This comprehensive investment plan follows productive discussions between Andhra Pradesh IT and Electronics Minister Nara Lokesh and Brookfield’s global and India leadership, including Global President Connor Teskey and Managing Partners Nawal Saini, Ankur Gupta, and Arpit Agrawal.
“We are incredibly excited about the transformative potential we see in Andhra Pradesh. This $12 billion commitment to the renewable energy sector is a testament to our confidence in the state’s vision and our long-term strategy for India,” said Connor Teskey, Global President of Brookfield. “Beyond green energy, our plans for a new township and the expansion of our Leela Hotels portfolio will help build sustainable and vibrant communities. This is a key step in our goal to expand our India portfolio to $100 billion by 2030.”
The planned investments in Andhra Pradesh are a cornerstone of Brookfield’s broader strategy to significantly expand its India portfolio from its current $30 billion to $100 billion by 2030.
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