Evergreen Renewables, the Indian arm of US-based green energy platform Evergreen Power Solutions Inc, has formalized a Memorandum of Understanding (MoU) with the government of Gujarat to develop a 400-MW hybrid renewables complex in the state.
The agreement, announced via a LinkedIn post by Evergreen Renewables on Wednesday, outlines an investment of approximately INR 40 billion (USD 480.6 million/EUR 438.6 million) for the project, which will integrate both solar photovoltaic (PV) and onshore wind capacities.
The proposed hybrid renewables complex aligns with Gujarat’s renewable energy policy, which targets sourcing 50% of the state’s total power requirements from renewable sources by the end of the decade.
Evergreen Renewables, headquartered in Mumbai, holds a pipeline of around 2.3 GW across wind, solar, and battery storage projects in states including Tamil Nadu, Gujarat, Maharashtra, Madhya Pradesh, Karnataka, and Andhra Pradesh.
The parent company has already commissioned 734 MW of capacity in both the United States and India, according to information available on its website. This collaboration reflects the ongoing efforts in India to accelerate the transition to sustainable and diverse energy sources.