New Delhi/Amaravati: In a landmark move toward accelerating India’s clean energy transition, REC Limited has sanctioned ₹7,500 crore (₹75 billion) in funding for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool district, Andhra Pradesh. The project — a blend of 640 MW wind and 400 MW solar capacity — marks the largest-ever REC sanction to a private-sector initiative.
A Major Boost to Andhra Pradesh’s Green Energy Vision
The project is being implemented by Evren, a clean energy platform jointly launched by Brookfield and Axis Energy. Valued at ₹9,910 crore, this hybrid venture is a core component of Evren’s 3 GW renewable energy portfolio spread across Kurnool and Anantapur districts.
The project also contributes to Brookfield’s 8,000 MW renewable pipeline in Andhra Pradesh, representing a total planned investment of ₹50,000 crore in the State’s green energy and infrastructure sector.
Strategic Collaboration Following High-Level Talks
This significant financial sanction comes in the wake of Andhra Pradesh IT and Industries Minister Nara Lokesh’s meeting with Brookfield Global President Connor Teskey in London (August 2025).
The two leaders discussed expanding cooperation across renewable energy, AI-ready data centers, and sustainable infrastructure development, reinforcing Andhra Pradesh’s ambition to become India’s renewable energy capital.
A Pioneering Project under the FDRE Framework
According to industry experts, this REC-funded initiative is India’s first renewable energy project to integrate State-level grid connectivity with a Firm and Dispatchable Renewable Energy (FDRE) power purchase framework.
Its hybrid structure, combining wind, solar, and advanced battery storage, will ensure reliable, round-the-clock clean power, enhance grid stability, and reduce dependence on fossil fuels.
Brookfield’s Expanding Clean Energy Footprint
Brookfield, one of the world’s leading alternative investment managers, has over USD 1 trillion in Assets Under Management (AUM). Globally, it operates 46 GW of installed renewable capacity and manages a development pipeline of nearly 200 GW.
In India, Brookfield’s portfolio spans renewable energy, data centers, infrastructure, and real estate, making it one of the largest foreign investors in sustainable assets.
Andhra Pradesh’s Clean Energy Push
Speaking on the development, Minister Nara Lokesh said:
“Andhra Pradesh is rapidly emerging as India’s renewable energy hub. We are delighted to partner with global leaders like Brookfield to build next-generation sustainable infrastructure that creates jobs, drives industrial growth, and strengthens our energy security.”
About REC Limited
REC Limited (formerly Rural Electrification Corporation Limited) is a leading public sector financial company in India. Established in 1969, REC is one of the largest non-banking financial institutions dedicated to financing the power sector. The company’s operations extend to financing power transmission and distribution, renewable energy, and rural electrification projects, with a strong focus on sustainable development. REC has been a significant player in shaping India’s energy infrastructure and continues to support large-scale projects in the power and infrastructure sectors.
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