Evren has secured around $600 million in financing for its firm and despatchable renewable energy (FDRE) hybrid project in Andhra Pradesh and Rajasthan. The project has an installed capacity of nearly 1 GW. It combines solar and wind generation with a battery energy storage system to ensure a reliable power supply. The project is scheduled to be commissioned in 2027. It is expected to produce around 2,400 GWh of electricity annually. It is also projected to reduce carbon emissions by more than 1.5 million tonnes each year.
Furthermore, the lenders of the project are SMBC, Standard Chartered Bank, MUFG, DBS Bank, Crédit Agricole CIB, and BNP Paribas. The project is backed by a power purchase agreement with NTPC Limited. It will supply renewable energy for a contracted capacity of 300 MW to NTPC.
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