Brookfield's Evren Secures $600 Million for Renewable Energy Project in India
Brookfield platform Evren secures $600 mn to supply 300 MW RE to NTPC
Business Standard
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Evren, a joint venture by Brookfield and Axis Energy, has secured $600 million for a renewable energy project in Andhra Pradesh and Rajasthan, aiming to supply 300 MW of power to the National Thermal Power Corporation (NTPC). The project, expected to be commissioned in 2027, will generate approximately 2,400 GWh annually and significantly reduce CO2 emissions.
- 01Evren has secured $600 million for a renewable energy project.
- 02The project will supply 300 MW of power to NTPC.
- 03It integrates solar and wind power with battery storage.
- 04Scheduled for commissioning in 2027, it will generate about 2,400 GWh annually.
- 05Evren plans to build over 7 GW of renewable energy assets in 4-5 years.
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Evren, a platform launched by Brookfield Asset Management in partnership with Axis Energy, has announced securing $600 million for its renewable energy project in India. This project, which combines solar and wind power generation with a battery energy storage system, aims to deliver 300 MW of dispatchable renewable energy to the National Thermal Power Corporation (NTPC) under a power purchase agreement. With a total installed capacity of approximately 1 GW, the project is set to be commissioned in 2027 and is expected to generate around 2,400 GWh of electricity annually, displacing over 1.5 million tonnes of CO2 emissions each year. The financing for this project comes from a consortium of lenders, including SMBC, Standard Chartered Bank, MUFG, DBS Bank, Crédit Agricole CIB, and BNP Paribas. This integrated renewable energy approach is designed to enhance grid stability and energy security, allowing renewable sources to compete effectively with traditional power generation. Looking ahead, Evren aims to develop over 7 GW of renewable energy assets across resource-rich states in India over the next four to five years.
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The project will enhance energy security and contribute to reducing carbon emissions in India, benefiting local communities by providing cleaner energy.
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