Evren Secures USD 600 Mn for Renewable Energy Project

New Delhi, Apr 21 (PTI) Brookfield-backed renewable energy platform Evren has secured around USD 600 million from a consortium of lenders, including Standard Chartered Bank and MUFG.

Others include SMBC, DBS Bank, Credit Agricole CIB, and BNP Paribas, Evren said in a statement.

The support reflects the growing confidence of global lenders in India's next-generation energy infrastructure, it said.

Evren is a clean energy platform launched by multinational investment company Brookfield in India as a 51:49 per cent joint venture with Axis Energy.


Evren said it secured about USD 600 million for the development of its firm and dispatchable renewable energy (FDRE) hybrid project in Andhra Pradesh and Rajasthan.

The project benefits from a power purchase agreement (PPA) signed with the NTPC. It will supply renewable power for a contracted capacity of 300 MW.

Scheduled for commissioning in 2027, the project is expected to generate about 2,400 GWh annually and is projected to displace over 1.5 million tonnes of CO₂ emissions each year.

Evren CEO Suman Kumar said, "The FDRE project delivers dispatchable clean energy through an integrated solar, wind and battery storage platform, supporting grid reliability at scale."