Global investment firm Brookfield Asset Management is preparing to invest $12 billion in Andhra Pradesh’s renewable energy sector over the next three years, according to people familiar with the development. This would be among the largest overseas commitments in India’s green energy space. The company is also exploring additional investments in real estate and hospitality in the state as part of its wider expansion strategy.
Brookfield’s renewable energy plans include investments across the entire clean energy value chain. The firm is expected to invest in Indosol’s integrated manufacturing facility and Navayuga’s renewable energy portfolio, along with projects focused on green hydrogen and clean manufacturing. These initiatives will strengthen Andhra Pradesh’s position as one of India’s emerging renewable energy hubs.
The proposed investment was discussed during a meeting between Andhra Pradesh’s IT and electronics minister Nara Lokesh and Brookfield Asset Management managing partners Nawal Saini, Ankur Gupta and Arpit Agrawal. The discussions also touched upon Brookfield’s interest in building a satellite township and developing multiple hotels under its Leela brand in the state.
Sources said the investment in the real estate and hospitality segment will be in addition to the $12 billion allocated for clean energy. “The number of Leela hotels has not been finalised,” said one of the people aware of the talks. “But in the meeting, the broad contours of this have been agreed upon.”
This move follows an earlier meeting in September between Minister Lokesh and Brookfield’s global president Connor Teskey in London. Andhra Pradesh has already attracted several major renewable energy players such as Premier Energies and Renew Power, and Brookfield’s entry is expected to further accelerate growth in the sector.
Brookfield aims to grow its India portfolio from the current $30 billion to $100 billion by 2030, covering diverse sectors including energy, infrastructure, and real estate. The Andhra Pradesh government is expected to formalize the partnership with Brookfield during its upcoming Global Investment Summit in Vizag on November 14 and 15.
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