REC Sanctions Rs 7,500 Cr for Brookfield’s 1,040 MW Hybrid Renewable Energy Project in Kurnool

REC Ltd has approved funding of Rs 7,500 crore for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool district, marking its largest-ever financial sanction to a private sector project. The total project cost is Rs 9,910 crore.

The project is being developed by Evren, a joint venture between Brookfield (51.49%) and Axis Energy. It will combine 640 MW of wind and 400 MW of solar power with battery storage to deliver firm and dispatchable renewable energy. This is India’s first Firm and Dispatchable Renewable Energy (FDRE) project with state-level grid connectivity and a dedicated Power Purchase Agreement.

The initiative supports Andhra Pradesh’s Integrated Clean Energy Policy, launched in October 2024 by Chief Minister Nara Chandrababu Naidu, which enables single-window clearances and offers incentives to boost green investments.