A consortium of global lenders is set to provide around $600 million in debt financing for Brookfield’s hybrid renewable energy portfolio in India.
A consortium of global lenders is set to provide around $600 million in debt financing for Brookfield’s 1.04 GW renewable energy portfolio in India, according to The Economic Times.
The lender group includes Sumitomo Mitsui Banking Corporation, Standard Chartered, Mitsubishi UFJ Financial Group, DBS, BNP Paribas and Crédit Agricole CIB.
The funding will support Brookfield’s hybrid renewable energy projects developed under Even, its joint venture clean energy platform with Axis Energy. The portfolio comprises 640 MW of wind power and 400 MW of solar power, along with battery energy storage, forming a 1.04 GW hybrid project with an estimated investment of about $1.12 billion.
Last year, Even signed a 300 MW power purchase agreement with NTPC for firm and dispatchable renewable energy to support peak demand and storage obligations.
It even currently has a renewable energy portfolio exceeding 11 GW, including around 7 GW of solar and wind projects in mid- and late-stage development.
As per ET, REC Limited had earlier sanctioned $846 million (about ₹7,500 crore) for the project, marking its largest funding approval for a private-sector renewable energy initiative.
The funding highlights continued investor confidence in India’s large-scale renewable and storage-linked power projects.
