Brookfield-Backed Evren Secures Funding for Dispatchable Renewable Project, Signs NTPC PPA

Evren has raised significant funding to accelerate its renewable energy expansion in India, marking a major step in the development of dispatchable clean power infrastructure. 

Funding and Project Structure 

As per news report, the platform, launched by Brookfield in partnership with Axis Energy, has secured approximately $600 million to develop a firm and dispatchable renewable energy (FDRE) project. The project will be spread across Andhra Pradesh and Rajasthan. 

With an installed capacity of around 1 gigawatt, the project combines solar and wind generation along with a battery energy storage system. This integrated structure is designed to ensure consistent and reliable renewable power supply. 

The financing has been supported by a group of global lenders including SMBC, Standard Chartered Bank, MUFG, DBS Bank, Crédit Agricole CIB and BNP Paribas. 

Power Supply Agreement and Output 

Evren has entered into a power purchase agreement with NTPC for a contracted capacity of 300 megawatts. 

The project is expected to become operational in 2027 and is projected to generate approximately 2,400 gigawatt-hours of electricity annually.  

In terms of environmental impact, it is estimated to reduce carbon emissions by over 1.5 million tonnes each year. 

Technology, Benefits and Strategic Role 

The hybrid model strengthens grid stability by enabling dispatchable renewable energy, which can be supplied as per demand rather than intermittently. It also improves energy security and enhances the competitiveness of renewable power compared to conventional energy sources.

The platform stated that the use of advanced analytics and optimised capacity planning will help meet offtaker demand efficiently while maintaining cost effectiveness. 

Looking ahead, Evren aims to build more than 7 gigawatts of renewable energy assets over the next four to five years. The expansion will focus on regions with strong renewable resource availability, supporting India’s broader clean energy transition. 

Read More: Renewable Energy Growth Surpasses Electricity Demand in China and India! 

Conclusion 

The funding marks a significant milestone for Evren’s hybrid energy strategy, combining scale, technology and financing to deliver reliable renewable power while advancing long-term sustainability goals. 

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