Brookfield's Strategic Bet on India's Green Energy Revolution: A $12 Billion Commitment to Andhra Pradesh

The Mega Investment Blueprint

Brookfield's $12 billion pledge to Andhra Pradesh encompasses a comprehensive renewable energy ecosystem spanning the entire value chain. The investment strategy includes backing Indosol's integrated solar manufacturing facility, acquiring Navayuga's renewable energy portfolio, and developing cutting-edge green hydrogen projects. This isn't merely about generation capacity—it's about building India's self-reliant manufacturing backbone for solar components and clean energy infrastructure.

The commitment was formalized following high-level meetings between Andhra Pradesh IT and Electronics Minister Nara Lokesh and Brookfield's leadership, including Global President Connor Teskey. A landmark example of this partnership is already materializing: the Rural Electrification Corporation (REC) has sanctioned a record ₹7,500 crore funding for Brookfield's 1,040 MW hybrid renewable project in Kurnool, combining 640 MW of wind and 400 MW of solar capacity—the largest REC sanction ever extended to a private-sector project.

Through its joint venture platform Evren, created with Hyderabad-based Axis Energy, Brookfield has already lined up over 3 GW of renewable projects across Kurnool and Anantapur districts. This forms part of an even larger 8,000 MW pipeline in Andhra Pradesh involving a total investment of ₹50,000 crore. The project stands out as India's first to combine state-level grid connectivity with firm and dispatchable renewable power under the FDRE framework, ensuring continuous supply through hybrid wind-solar structure coupled with battery storage.

Expanding Beyond Energy: Real Estate and Hospitality

Brookfield's vision for India extends far beyond renewable energy infrastructure. The company is strategically expanding into real estate and hospitality sectors, with plans to establish a satellite township north of Visakhapatnam (Vizag) and develop multiple luxury hotels under its prestigious Leela brand. While the exact investment figures for these ventures haven't been finalized, they represent additional capital over and above the $12 billion allocated for clean energy.

The Leela Palaces, Hotels and Resorts brand, owned by Schloss Bangalore Ltd with Brookfield's backing, is already investing ₹1,131 crore in developing five new luxury properties across India in Agra, Srinagar, Bandhavgarh, Ranthambore, and Ayodhya. The hospitality expansion in Andhra Pradesh will further strengthen Brookfield's diversified portfolio approach, creating employment opportunities and boosting tourism infrastructure alongside energy projects.

The $100 Billion India Vision by 2030

Brookfield's Andhra Pradesh investment is a cornerstone of its ambitious plan to quadruple its India portfolio from the current $30 billion to $100 billion by 2030. This represents one of the most aggressive expansion strategies by any global investment firm in an emerging market, reflecting extraordinary confidence in India's growth trajectory.

President Connor Teskey articulated the rationale: "We expect our global business to more than double over the next five years. In high-growth regions like India, where we see powerful tailwinds and enormous opportunity, it's entirely reasonable to expect our exposure to triple or even quadruple". The firm, which manages over $1 trillion globally, has been active in India for over 15 years across infrastructure, real estate, renewable energy, and private equity sectors.

Brookfield's investment strategy aligns perfectly with India's vision to become a clean energy superpower, focusing on digital infrastructure, transportation, utilities, financial services, and manufacturing. The firm is also exploring opportunities in India's nuclear energy sector, leveraging its ownership of Westinghouse Nuclear to provide baseload clean power for the country's growing energy demands.

India's Energy Transition: A Global Capital Magnet

Brookfield's commitment reflects a broader trend of unprecedented global capital flowing into India's renewable energy sector at record pace. As of March 2025, India's renewable energy sector has attracted nearly $12.67 billion in cumulative Foreign Direct Investment, with solar energy emerging as the leading sector. The western region has received the highest share of this investment, though states like Andhra Pradesh are rapidly emerging as competitive hubs.

Recent data shows remarkable momentum: India's renewable sector attracted $11.8 billion in investments during just the first half of 2025 alone. In August 2025, monthly investments soared to $1.235 billion, marking a 45% year-on-year increase from August 2024. India is expected to add 32 GW of renewable capacity in 2025, up from 28 GW in 2024, according to Moody's-owned rating agency.

FDI in the renewable energy sector increased by 6.7% in FY 2024-25, reaching $4,012 million compared to $3,760 million in FY 2023-24. This growth is driven by India's policy incentives, including 100% FDI under the automatic route, the Production Linked Incentive (PLI) scheme for solar manufacturing, and the introduction of Climate Finance Taxonomy in Union Budget 2024-25.

Why Andhra Pradesh?

Andhra Pradesh has strategically positioned itself as India's renewable energy powerhouse through progressive policies and infrastructure development. The state received major investments from companies like Premier Energies and ReNew Power, with the latter committing ₹22,000 crore for India's largest renewable energy complex in Anantapur featuring 1,800 MW solar, 1,000 MW wind, and 2 GWh battery storage.

Minister Nara Lokesh emphasized: "Andhra Pradesh is rapidly emerging as India's renewable-energy hub. We are delighted to partner with global leaders like Brookfield in building the next generation of sustainable infrastructure that creates jobs, drives industrial growth, and strengthens our energy security". The state's clean energy policy framework, abundant land availability, excellent solar and wind resources, and proactive government engagement have created a compelling investment destination.

Economic and Strategic Implications

Brookfield's $12 billion investment will create thousands of direct and indirect jobs across manufacturing, construction, operations, and maintenance. The focus on integrated solar manufacturing addresses India's strategic goal of achieving self-reliance (Atmanirbhar Bharat) in renewable energy equipment, reducing dependence on imports.

The investment strengthens India's position in meeting its ambitious target of 500 GW of non-fossil fuel capacity by 2030, part of the country's commitment to achieving net-zero emissions. With renewable energy investments growing at approximately 4% CAGR from 2017-2024 and expanding into e-mobility, low-carbon fuels, and circular economy sectors, the energy transition is becoming a comprehensive economic transformation.

The multilateral support is equally significant: the Asian Development Bank launched the India Green Finance Facility in July 2025, mobilizing nearly $8 billion in co-financing for private sector-led clean energy projects. ADB has approved loans totaling over $675 million for modernizing power distribution and supporting renewable energy development across multiple states.

What This Means for India's Future

Brookfield's massive bet on India's green energy sector validates several critical trends. First, global institutional capital increasingly views India as a stable, high-return destination for long-term renewable energy investments. Second, the integration of manufacturing, generation, and storage demonstrates that investors are thinking holistically about energy ecosystems rather than isolated projects.

Third, the diversification into real estate and hospitality alongside energy infrastructure shows that Brookfield envisions comprehensive regional development, not just power projects. The planned Vizag township and Leela hotels will create mixed-use developments that enhance quality of life while supporting the workforce needed for mega renewable projects.

Finally, the partnership model between global capital (Brookfield), domestic expertise (Axis Energy through Evren), government facilitation (Andhra Pradesh), and public sector financing (REC) represents a replicable blueprint for accelerating India's energy transition. This collaborative approach pools resources, shares risks, and leverages complementary strengths to execute projects at unprecedented scale and speed.

India's energy transition is no longer a distant aspiration—it's a massive economic opportunity attracting record global capital. Brookfield's $12 billion commitment to Andhra Pradesh, as part of its $100 billion India vision, demonstrates that the world's largest institutional investors are backing India's clean energy future with conviction and substantial capital. As more international players follow suit, India is poised to emerge not just as a renewable energy consumer, but as a global manufacturing and innovation hub for sustainable technologies