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

The agreement, covering a capacity of 300 MW, is a major step in the development of a near-one GW renewable energy project comprising wind, solar, and battery energy storage systems. The project, situated in Andhra Pradesh, includes 500 MW of wind energy, 330 MW of solar capacity, and a battery energy storage component.

The combined infrastructure is designed to provide firm and dispatchable renewable energy (FDRE), capable of reliably meeting peak electricity demand in the mornings and evenings. Electricity will be supplied at a tariff of Rs 4.65 per unit, with an additional trading commission of 0.7 paise per unit for NTPC. The total investment for the project is estimated at USD 750 million. By integrating hybrid and storage-based renewable technologies, the project ensures consistent and firm power supply, advancing India’s energy transition goals.

Evren currently manages a diversified portfolio of over 11 GW in wind and solar assets across India, including mid and late-stage developments. The new PPA represents a crucial milestone in the platform’s mission to accelerate India’s clean energy ambitions through large-scale, integrated renewable energy projects. It also reinforces Andhra Pradesh’s role as a growing hub for green energy investments and highlights Axis Energy’s commitment to creating a sustainable and energy-secure future for India.