Brookfield-Backed Evren Secures $600 Million Energy Project

Hyderabad, 25nd April 2026: Evren, a renewable energy platform launched by Brookfield in India as a joint venture with Axis Energy announced it has successfully secured approximately $600 million in financing. The funds will drive the development of a landmark 1 GW Firm and Dispatchable Renewable Energy (FDRE) hybrid project spanning across Andhra Pradesh and Rajasthan.

Marking one of the first large-scale, fully integrated FDRE project financings in India, this initiative combines solar and wind power generation with an advanced Battery Energy Storage System (BESS). This integrated approach utilises advanced analytics and optimised capacity design to ensure energy security, enabling renewable sources to compete effectively with conventional thermal power by delivering reliable, on-demand clean energy.

The project is backed by a long-term Power Purchase Agreement (PPA) with the National Thermal Power Corporation (NTPC), a government-owned enterprise under India's Ministry of Power. Under this agreement, Evren will supply a contracted capacity of 300 MW of renewable power to the national grid.Scheduled for commissioning in 2027, the 1 GW hybrid project is expected to generate approximately 2,400 GWh of electricity annually. This output is projected to displace over 1.5 million tonnes of CO₂ emissions each year, directly supporting India’s ambitious national target of achieving 500 GW of non-fossil fuel capacity by 2030 and contributing to long-term net-zero ambitions.

"We’re pleased to partner with NTPC under this long-term PPA and grateful for the strong support from our global lenders as we progress toward commissioning in 2027," said Suman Kumar, CEO of Evren. "The FDRE project delivers dispatchable clean energy through an integrated solar, wind, and battery storage platform, supporting grid reliability at scale."