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REC Sanctions INR 7,500 Crore for Brookfield’s 1,040 MW Hybrid Renewable Project in Andhra Pradesh

The Rural Electrification Corporation (REC) has approved funding of INR 7,500 crore for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool, Andhra Pradesh, comprising 640 MW of wind and 400 MW of solar capacity.

With a total project cost of INR 9,910 crore, this represents REC’s largest-ever sanction for a private-sector renewable energy initiative. The project is being developed by Evren, a clean energy platform jointly established by Brookfield and Axis Energy.

Evren has already identified over 3 GW of renewable projects across Kurnool and Anantapur, forming part of Brookfield’s 8 GW pipeline in Andhra Pradesh, backed by a planned investment of INR 50,000 crore.

Highlighting the state’s growing renewable potential, Andhra Pradesh IT Minister Nara Lokesh stated, “Andhra Pradesh is rapidly emerging as India’s renewable energy hub. We are proud to collaborate with global leaders like Brookfield to develop next-generation sustainable infrastructure that creates jobs, fuels industrial growth, and enhances our energy security.”