Brookfield-Backed Real Estate Platform Secures $600 Million in Funding from Multiple Lenders

Evren Secures $600 Million in Funding for Renewable Energy Project

Evren, a Brookfield-backed renewable energy platform, has secured approximately $600 million in funding from a consortium of lenders, including Standard Chartered Bank and MUFG. The consortium also comprises SMBC, DBS Bank, Crédit Agricole CIB, and BNP Paribas, according to a statement issued by Evren.

This significant investment reflects the growing confidence of global lenders in India's next-generation energy infrastructure, as stated by Evren. The platform was launched by multinational investment company Brookfield in India as a 51:49 per cent joint venture with Axis Energy.

Evren has secured the $600 million funding 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 National Thermal Power Corporation (NTPC). Once commissioned in 2027, the project is expected to supply renewable power for a contracted capacity of 300 MW.

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The FDRE project is projected to generate approximately 2,400 GWh annually and displace over 1.5 million tonnes of CO2 emissions each year. The project's design delivers dispatchable clean energy through an integrated solar, wind, and battery storage platform, supporting grid reliability at scale.

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