In a big step toward India’s clean energy future, the Rural Electrification Corporation (REC) has approved a record ₹7,500 crore loan for Brookfield’s 1,040 MW hybrid renewable energy project in Kurnool, Andhra Pradesh. The project, which includes 640 MW of wind and 400 MW of solar power, marks the single largest REC funding ever extended to a private company. The total project cost is estimated at ₹9,910 crore.
The project is being developed by Evren, a joint venture between Brookfield and Axis Energy. Evren has already planned over 3 GW of renewable energy projects across Kurnool and Anantapur. These projects form part of Brookfield’s massive 8,000 MW pipeline in Andhra Pradesh, representing a total investment of around ₹50,000 crore.
This milestone follows Minister Nara Lokesh’s meeting with Brookfield Global President Connor Teskey in London earlier this year, where they discussed expanding cooperation in renewable energy, AI-ready data centers, and green infrastructure.
Brookfield, one of the world’s largest investment managers with over US $1 trillion in assets, has a strong presence in renewable energy, infrastructure, and data centers. Globally, it manages around 46 GW of renewable power capacity and is developing another 200 GW. The Andhra Pradesh initiative is set to become a key part of Brookfield’s green growth in Asia.
Experts say this project is India’s first to blend state-level grid connectivity with a firm and dispatchable renewable power purchase agreement (PPA) under the new FDRE framework. The combination of wind, solar, and battery storage will ensure continuous, reliable, and green power for industries and households.
Speaking about the development, Andhra Pradesh HRD, IT, and Industries Minister Nara Lokesh said, “Andhra Pradesh is emerging as India’s renewable energy hub. We are proud to collaborate with global leaders like Brookfield to build sustainable infrastructure that brings jobs, boosts industry, and strengthens energy security.”
With this landmark REC sanction, Andhra Pradesh once again proves why it’s known as the Sunrise State of India — where global investors choose to grow, innovate, and power the future.