Brookfield’s AP projects get Rs. 7,500-cr REC boost

Amaravati: In a major development, the Rural Electrification Corporation (REC) sanctioned a record Rs 7,500 crore in funding for Brookfield's hybrid renewable energy project at Kurnool, comprising 640 MW of wind and 400 MW of solar capacity.

The total project cost is estimated at Rs 9,910 crore, marking the single largest REC sanction ever extended to a private-sector project.

"REC has sanctioned a record Rs 7,500 crore funding for Brookfield's 1,040 MW hybrid renewable energy project at Kurnool, comprising 640 MW of wind and 400 MW of solar capacity," a TDP statement said.

The project is being developed by Evren, a clean-energy platform jointly launched by Brookfield and Axis Energy. Evren has already lined up over 3 GW of renewable power projects across Kurnool and Anantapur, as part of Brookfield's broader 8,000 MW pipeline in Andhra Pradesh involving a total investment of Rs 50,000 crore.

Reacting to the development, IT Minister Nara Lokesh said the state is fast emerging as a renewable energy hub. "Andhra Pradesh is rapidly emerging as India's renewable energy hub. We are delighted to partner with global leaders like Brookfield in building the next generation of sustainable infrastructure that creates jobs, drives industrial growth, and strengthens our energy security," Lokesh said.