Evren Secures $600 Million for Pioneering Renewable Energy Project in India
Brookfield-backed renewable energy platform, Evren, has secured approximately USD 600 million from international banks, reflecting growing global confidence in India's clean energy infrastructure. The funding supports Evren's hybrid project expected to generate 2,400 GWh annually, reducing 1.5 million tonnes of CO₂ emissions per year.
- Country:
- India
India's renewable energy prospects soared as Evren, a Brookfield-backed platform, received a substantial financial boost of USD 600 million from leading global lenders including Standard Chartered Bank and MUFG. This marks a significant vote of confidence in India's clean energy initiatives.
Evren, a collaborative venture between Brookfield and Axis Energy, is spearheading a groundbreaking firm and dispatchable renewable energy (FDRE) hybrid project in Andhra Pradesh and Rajasthan. With a power purchase agreement signed with NTPC, the project plans to supply 300 MW of renewable power.
Due for commissioning in 2027, the project aims to generate 2,400 GWh annually and is expected to displace over 1.5 million tonnes of CO₂ emissions each year, highlighting the potential of integrated solar, wind, and battery storage systems to enhance grid reliability.
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