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					</table><p>Renewable energy company Evren has secured approximately $600 million from lenders, including <a href="https://www.smbcgroup.com/" target="_blank" rel="noopener">SMBC</a>, <a href="https://www.sc.com/en/" target="_blank" rel="noopener">Standard Chartered Bank</a>, <a href="https://www.mufg.jp/english/index.html" target="_blank" rel="noopener">MUFG</a>, <a href="https://www.dbs.bank.in/in/index/default.page" target="_blank" rel="noopener">DBS Bank</a>, <a href="https://www.ca-cib.com/en" target="_blank" rel="noopener">Crédit Agricole CIB</a>, and <a href="https://group.bnpparibas/en/" target="_blank" rel="noopener">BNP Paribas</a>, to develop a 1 GW hybrid firm and dispatchable renewable energy (FDRE) project in Andhra Pradesh and Rajasthan.</p>
<p>The project will integrate solar and wind power generation with a battery energy storage system.</p>
<p>Evren has signed a power purchase agreement with NTPC to supply 300 MW of renewable power from the FDRE project.</p>
<p>The hybrid project is scheduled for commissioning in 2027 and is expected to generate approximately 2,400 GWh of energy.</p>
<p>Last April, private climate investment vehicle ALTÉRRA announced it would <a href="https://www.mercomindia.com/alterra-and-brookfield-to-invest-100-million-in-evren" target="_blank" rel="noopener">invest</a> $100 million (~₹8.52 billion) in Evren, which would use the funds to develop and construct up to approximately 11 GW of solar, wind, and battery storage projects in Rajasthan and Andhra Pradesh.</p>
<p>Evren is a development platform launched by Brookfield in India as a joint venture with Axis Energy. The company aims to build more than 7 GW of renewable energy assets over the next four to five years.</p>
<p>Brookfield has a global portfolio of approximately 14,200 MW of solar and roughly 17,300 MW of wind energy assets under management.</p>
<p>In October 2025, Envision Energy India <a href="https://www.mercomindia.com/envision-wins-wind-turbine-generator-order-evren" target="_blank" rel="noopener">signed</a> an agreement with Evren to supply around 152 wind turbine generators of its EN 156/3.3 MW turbine platform, totaling 501.6 MW. Evren will deploy these wind turbines in Andhra Pradesh.</p>
<p>The total global corporate solar funding <a href="https://www.mercomindia.com/corporate-solar-funding-down-16-yoy-in-2025-deal-count-rises-ma-robust?" target="_blank" rel="noopener">dropped</a> by 16% year-over-year, with $22.2 billion raised in 175 deals, compared to $26.3 billion in 157 deals in 2024, according to Mercom Capital Group’s 2025 Annual and Q4 Solar Funding and M&amp;A Report. Global venture capital and private equity funding in the solar sector totaled $3.5 billion across 75 deals in 2025, 22% lower than the $4.5 billion raised in 60 deals in the previous year. There were eight VC funding deals of at least $100 million in 2025.</p>


Evren Secures $600 Million for FDRE Project in Andhra Pradesh and Rajasthan


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					</table><p><a href="https://www.envision-energy.in/" target="_blank" rel="noopener">Envision Energy India</a> has signed an agreement with Evren to supply around 152 wind turbine generators (WTG) of its EN 156/3.3 MW turbine platform, totaling 501.6 MW.</p>
<p>Evren will deploy these wind turbines in Andhra Pradesh.</p>
<p>Envision’s wind turbines have a 156-meter rotor diameter and a 140-meter hub height. This 3.3 MW turbine platform has been deployed in markets of the Middle East and North Africa region, Southeast Asia, and China, besides 2.5 GW operational in India.</p>
<p>Evren, backed by Brookfield Global Transition Fund, aims to develop over 10 GW of renewable energy assets across solar, wind, and battery storage in key states like Rajasthan and Andhra Pradesh.</p>
<p>Recently, Envision Energy India <a href="https://www.mercomindia.com/envision-to-supply-wind-turbine-generators-for-serenticas-560-mw-wind-project/" target="_blank" rel="noopener">won</a> an order to supply WTGs for Serentica Renewables‘ 560 MW wind project in India. The project will utilize Envision’s WTGs, each with a 5 MW rated capacity. Envision Energy will supply the WTGs to Serentica by February 2026.</p>
<p>In September, Envision Energy <a href="https://www.mercomindia.com/envision-breaks-ground-on-2-gw-blade-manufacturing-facility-in-gujarat" target="_blank" rel="noopener">broke</a> ground on its 2 GW blade manufacturing facility for wind turbines in Kalyangadh, Ahmedabad District, in Gujarat. The facility will manufacture up to 1,500 blades annually using six molds and will be equipped to produce blades for both 3.3 MW and 5 MW wind turbine platforms. This is Envision’s third manufacturing facility in India, developed by DA Group and constructed by Ashwika Warehousing.</p>
<p>Apart from manufacturing wind components, Envision Energy is also <a href="https://www.mercomindia.com/wind-developers-struggle-with-long-waits-for-ppas-and-payment-releases-interview" target="_blank" rel="noopener">foraying</a> into battery energy storage systems and green hydrogen.</p>
<p>Envision Energy India has an order book exceeding 16 GW and has developed more than 4.5 GW of wind projects in India. Its total commissioned capacity of energy projects in the country stands at over 2.5 GW.</p>
<p>According to Mercom Research, India <a href="https://mercomindia.com/indias-wind-energy-installations-surge-113-in-q2-2025" target="_blank" rel="noopener">added</a> 1.6 GW of wind energy capacity in the second quarter of 2025, a 113% year-over-year increase from 769 MW.</p>


Envision Wins 501.6 MW Wind Turbine Generator Order from Evren


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					</table><p>Private climate investment vehicle <a href="https://www.alterra.ae/" target="_blank" rel="noopener">ALTÉRRA</a> will invest $100 million (~₹8.52 billion) in the India-based renewable energy company Evren.</p>
<p>The funds will be utilized to develop and construct up to ~11 GW of solar, wind, and battery storage projects in Rajasthan and Andhra Pradesh.</p>
<p>Evren is a joint venture between <a href="https://axisenergy.in/" target="_blank" rel="noopener">Axis Energy Ventures India</a> and Brookfield Asset Management. It aims to develop 6 GW of renewable energy assets in India in the next two-three years.</p>
<p>ALTÉRRA will complete the transaction alongside Brookfield Global Transition Fund II and other investors.</p>
<p>ALTÉRRA is also Brookfield Global Transition Fund II’s largest third-party investor.</p>
<p>ALTÉRRA was launched at COP28 with a $30 billion (~₹2.55 trillion) commitment from the United Arab Emirates. It aims to mobilize $250 billion (~₹21.3 trillion) globally by 2030 towards the climate economy and transition.</p>
<p>The company is supported by the $25 billion (~₹2.13 trillion) Acceleration Fund, which aims to develop projects to accelerate the global transition to a net-zero and climate-resilient economy at scale. ALTÉRRA is also supported by the $5 billion (~₹426 billion) Transformation Fund, which works towards investment flows in high-growth climate opportunities in underserved markets by providing catalytic capital.</p>
<p>Brookfield Asset Management has over $1 trillion (~₹85.2 trillion) of assets under management in the renewable power and transition sector.</p>
<p>In March 2025,global alternative asset management firm TPG <a href="https://mercomindia.com/tpg-acquires-siemens-gamesas-india-and-sri-lanka-wind-businesses" target="_blank" rel="noopener">acquired</a> a majority stake in Siemens Gamesa’s onshore wind turbine manufacturing business in India and Sri Lanka. The transaction was the first investment from TGP’s Global South Initiative, a private equity strategy launched in partnership with ALTÉRRA.</p>
<p>Solar companies <a href="https://www.mercomindia.com/solar-corporate-funding-in-q1-2024-declines-41-as-uncertainty-weighs-on-market" target="_blank" rel="noopener">secured</a> $4.8 billion in corporate funding in 39 deals in the first quarter (Q1) of 2025, a 41% year-over-year decrease from $8.2 billion raised in 42 deals. However, funding increased 20% quarter-over-quarter (QoQ) compared to $4 billion raised in 40 deals in Q4 2024. In Q1 2025, the solar sector’s global venture capital funding was $1.4 billion in 14 deals, a 237% YoY increase from $406 million raised in 13 deals. Compared to Q4 2024, the funding rose 40% QoQ from $1 billion raised in 21 deals.</p>


ALTÉRRA to Invest $100 Million in Evren

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