Evren Secures 300 MW PPA with NTPC for Landmark Hybrid Project

Evren, a renewable energy platform formed through a joint venture between Brookfield and Hyderabad-based Axis Energy Group, has signed a 300 MW power purchase agreement (PPA) with NTPC.

This agreement marks a significant milestone in the development of a nearly 1 GW renewable energy project in Andhra Pradesh, which will integrate 500 MW of wind power, 330 MW of solar capacity, and a battery energy storage system.

Designed to deliver firm and dispatchable renewable energy (FDRE), the project aims to meet peak electricity demand reliably during morning and evening hours. Power will be supplied at a tariff of ₹4.65 per unit, along with a trading commission of 0.7 paise per unit for NTPC. The total investment in the project is estimated at USD 750 million.

By leveraging hybrid renewable technologies and energy storage, the project supports consistent and dependable green power delivery—an important step in advancing India’s energy transition goals.

Evren currently oversees a diverse portfolio of over 11 GW in wind and solar assets across India, spanning mid- to late-stage developments. This new PPA not only accelerates Evren’s mission to drive large-scale clean energy growth but also positions Andhra Pradesh as a rising hub for renewable investment. It further underscores Axis Energy’s commitment to building a sustainable and energy-secure future for the country.

News by Rahul Yelligetti.