Evren signs PPA with NTPC for 300 MW FDRE renewable energy project

Evren, a joint venture (JV) between Brookfield Renewable India and Axis Energy Ventures India Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with NTPC Limited for the 300 MW FDRE ISTS-Connected Renewable Energy Project (Tranche-II) in India.

The project, which was awarded to ABC Cleantech Private Limited (ACPL), an Evren Group company, follows a successful bid in March 2024. ACPL won the 300 MW Firm and Dispatchable Renewable Energy (FDRE) capacity under NTPC’s Tranche-II FDRE auction with a tariff of Rs 4.64 per kWh. This project is part of a larger auction in October 2023, where NTPC invited bids for 3,000 MW of capacity.

The 300 MW FDRE project will include 335 MW of solar power, 500 MW of wind capacity, and a 75 MWh energy storage system (ESS), all to be developed on a build, own, and operate (BOO) basis. The project is expected to be commissioned within 24 months from the PPA signing.