Evren, a clean energy platform set up by Brookfield in partnership with Axis Energy, has agreed to invest $5 billion to develop renewable energy in the Indian state of Andhra Pradesh.

The investment will focus on 3.5 GW of solar and 5.5 GW of wind assets, with 3 GW of projects set to be commissioned by the end of 2026.

The announcement was made after a meeting of Brookfield and Axis representatives with Andhra Pradesh Chief Minister N. Chandrababu Naidu and Andhra Pradesh Energy Minister Gottipati Ravi Kumar.

Evren is also exploring opportunities in integrated solar module manufacturing, pumped storage, battery storage, e-mobility, and green ammonia in Andhra Pradesh.

The company has said that it aims to build more than 6 GW of renewable energy assets in the next two to three years across India's most resource-rich states.