Brookfield, a global owner and operator of real assets, has proposed to invest over Rs 50,000 crore in Andhra Pradesh in the next three to five years in renewable energy, focusing on wind and solar formats.

A delegation from the Canadian company and its Indian partners met Andhra Pradesh Chief Minister N Chandrababu Naidu and Energy Minister G Ravi Kumar in Amaravati and proposed to build the renewable energy projects.

"Evren, a Brookfield and Axis Energy promoted clean energy platform has committed to invest in the state of Andhra Pradesh during a late night meeting on Tuesday with Chief Minister Nara Chandrababu Naidu and Energy Minister G Ravi Kumar," said a press release from the Energy Minister's office.

In a post on micro-blogging site X, the CM noted that the Canadian company, Brookfield, which manages global assets worth $1 trillion expressed keen interest in the southern state's renewable sector.

"Met with Managing Director of Brookfield's renewable power and transition group, Nawal Saini today (Tuesday). A leading investor in green initiatives, Brookfield has expressed a keen interest in investing in our state's renewable energy sector, particularly in solar, wind, and rooftop energy," said Naidu.

K Ravi Kumar Reddy, chairman, Evren, a joint venture between Brookfield and Axis Energy Group, told PTI that the platform looks to invest over Rs 50,000 crore in the next three to five years in the southern state.