REC sanctions ₹7,500 crore funding for Brookfield’s RE project in Andhra Pradesh

In a major boost to Andhra Pradesh (A.P.)’s clean-energy ambitions, the Rural Electrification Corporation Limited (REC) sanctioned ₹7,500 crore funding for Brookfield’s 1,040 MW hybrid Renewable Energy (RE) project in Kurnool district. 

“Costing ₹9,910 crore, the project comprises 640 MW of wind and 400 MW of solar capacity and it is the single largest sanction ever given by REC to a private sector project,” according to an official release. 

The project is being developed by Evren, a clean energy platform launched by Brookfield and Axis Energy as a joint venture.

Evren has already lined up over 3 GW of RE projects across Kurnool and Anantapur districts forming a part of Brookfield’s 8,000 MW pipeline in Andhra Pradesh with a total investment of ₹50,000 crore.

This major milestone came in the wake of IT Minister Nara Lokesh’s meeting with Brookfield Global President Connor Teskey in London in August 2025, where both sides explored opportunities for deeper collaboration across RE, AI-ready data centers, and green infrastructure sectors. 

Brookfield is one of the world’s largest alternative investment managers, with more than U.S. $1 trillion in Assets Under Management (AUM) and it is a leader in RE with around 46 GW of installed capacity and a development pipeline of nearly 200 GW globally. Its India portfolio spans RE, infrastructure, data centres, and real estate.

According to industry experts, the above REC-funded project is the first in the country to combine State-level grid connectivity with a firm and dispatchable renewable power purchase agreement under the Firm and Dispatchable Renewable Energy (FDRE) framework. 

The hybrid wind-solar structure, coupled with battery storage, will ensure continuous power supply and enhance grid reliability.

Commenting on the development, Mr. Lokesh said Andhra Pradesh was rapidly emerging as India’s RE hub and that he was delighted to partner with global leaders such as Brookfield in building the next generation of sustainable infrastructure that creates jobs, drives industrial growth, and strengthens the State’s  energy security.