Funding the Future: Brookfield’s $1.1B Renewable Milestone

Global lenders are expected to provide around USD 600 million in financing for Brookfield Corporation’s 1.04 GW hybrid renewable energy project in Andhra Pradesh and Rajasthan, supporting its expansion in India’s clean energy sector.

The project is being developed through Evren, a joint venture between Brookfield and Axis Energy, and will comprise 640 MW of wind capacity, 400 MW of solar power, along with battery storage. With an estimated total investment of USD 1.12 billion, the project is backed by a power purchase agreement with NTPC Limited to supply 300 MW of firm, dispatchable renewable energy.

The financing consortium is likely to include major global banks such as Standard Chartered, BNP Paribas, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Financial Group, DBS Bank, and Crédit Agricole CIB, although formal confirmations are awaited.

Earlier, state-owned REC Limited had sanctioned USD 846 million (₹7,500 crore) for the project, marking its largest funding approval for a private sector initiative. Brookfield has been steadily expanding its renewable energy footprint in India, with investments exceeding USD 4 billion and a portfolio of around 45 GW of wind and solar assets across operational and development stages, including an 11 GW pipeline under active execution.

News by Rahul Yelligetti.