Evren to Invest in Clean Energy Projects in Andhra Pradesh – EQ
In Short : Evren, a prominent player in the renewable energy sector, is set to invest in clean energy projects in Andhra Pradesh. The company’s investment will focus on expanding the state’s renewable energy capacity, including solar and wind power projects. This initiative aligns with Andhra Pradesh’s goals of enhancing its green energy portfolio, promoting sustainable development, and reducing carbon emissions in the region.
In Detail : Evren, a clean energy initiative supported by Brookfield and Axis Energy, has committed to investing $5 billion in Andhra Pradesh’s renewable energy sector.
The company plans to develop a total of 9,000 MW in renewable energy capacity within the state, which will include 3,500 MW from solar power and 5,500 MW from wind power. Currently, 3,000 MW of these projects are already in progress.
The investment strategy covers a range of critical areas in clean energy, such as integrated module manufacturing, pumped storage systems, battery storage solutions, e-mobility and electric vehicle technology, and green ammonia production.
Evren is a joint venture between Brookfield and Axis Energy Ventures India Private Limited. Formed in 2019, the partnership merges Brookfield’s global expertise with Axis Energy’s extensive experience in renewable energy projects in India. As reported by knnindia.co.in, till date, the collaboration has successfully developed over 1.80 GW of solar and wind energy assets.
