ALTERRA Invests in India’s Green Energy Platform Evren
POWER & RENEWABLE ENERGY

ALTERRA Invests in India’s Green Energy Platform Evren

ALTERRA, a climate-focused investment fund backed by the United Arab Emirates, has invested Rs 8.3 Bn (approximately $100 Mn) into Mumbai-based renewable energy platform Evren. The investment will support the development and construction of up to 11 gigawatts (GW) of solar, wind, and battery storage projects in Rajasthan and Andhra Pradesh.

This marks the first direct investment into the Global South by ALTERRA, made through its ALTERRA Acceleration Fund. The fund was launched at the 28th Conference of the Parties (COP28) with a $30 Bn commitment from the United Arab Emirates, aiming to mobilise $250 Bn globally by 2030 for climate financing.

Evren is backed by Brookfield’s Global Transition Fund II. The platform recently signed a power purchase agreement with NTPC Limited to supply 300 megawatts of renewable power.

According to ALTERRA, the investment reflects its mission to catalyse capital into scalable, high-impact climate solutions while supporting India’s energy security and economic growth. Brookfield Asset Management, which manages over $ one trillion globally, is a key strategic partner in Evren’s expansion.

India is targeting 500 GW of non-fossil fuel capacity by 2030 and currently has 269.82 GW installed, as per Central Electricity Authority data.

Source:Press Trust of India (PTI)

ALTERRA, a climate-focused investment fund backed by the United Arab Emirates, has invested Rs 8.3 Bn (approximately $100 Mn) into Mumbai-based renewable energy platform Evren. The investment will support the development and construction of up to 11 gigawatts (GW) of solar, wind, and battery storage projects in Rajasthan and Andhra Pradesh.This marks the first direct investment into the Global South by ALTERRA, made through its ALTERRA Acceleration Fund. The fund was launched at the 28th Conference of the Parties (COP28) with a $30 Bn commitment from the United Arab Emirates, aiming to mobilise $250 Bn globally by 2030 for climate financing.Evren is backed by Brookfield’s Global Transition Fund II. The platform recently signed a power purchase agreement with NTPC Limited to supply 300 megawatts of renewable power.According to ALTERRA, the investment reflects its mission to catalyse capital into scalable, high-impact climate solutions while supporting India’s energy security and economic growth. Brookfield Asset Management, which manages over $ one trillion globally, is a key strategic partner in Evren’s expansion.India is targeting 500 GW of non-fossil fuel capacity by 2030 and currently has 269.82 GW installed, as per Central Electricity Authority data.Source:Press Trust of India (PTI)

Next Story
Infrastructure Transport

India’s Maha Kumbh of Road Construction

The RAHSTA Forum 2025, held on June 25 at Courtyard by Marriott, Mumbai, delivered powerful insights and dialogue on the future of India’s roads and highways sector. Organised by the FIRST Construction Council, the Forum served as the curtain-raiser to the much-anticipated RAHSTA Expo 2025, set to take place on 3rd and 4th September at the Jio Convention Centre, Mumbai.Union Minister of Roads Transport & Highways Shri Nitin Gadkari, while appreciating the efforts of FIRST Construction Council and ASAPP Info Global Group, commended the awards which recognise excellence across various..

Next Story
Real Estate

Built to Last, Designed to Impress

The construction and interior design industries stand at the confluence of functionality and aesthetics, where innovation powers the creation of enduring structures and inspiring spaces. At the heart of this process are materials and solutions that enable architects, designers, and builders to realise their visions with precision and reliability.Featuring iconic brands such as Fevicol—synonymous with adhesive solutions—Dr. Fixit, a complete waterproofing system renowned for addressing every critical area of construction, and Roff, a specialist in tile-fixing solutions, Pidilite has earned ..

Next Story
Infrastructure Energy

New Push to Cut India’s Air Pollution through Power Sector Reforms

In a significant stride toward environmental sustainability, Cummins India introduced CPCB IV+ compliant gensets to India on July 5, 2023, marking a paradigm shift in the power generation industry. These generators are engineered to adhere to the progressive emission norms set by the Ministry of Environment, Forest, and Climate Change. Being the first sets in the field, they have garnered praise for their remarkable achievements in emissions reduction and cutting-edge technology. Powerica, with its four-decade-long partnership with Cummins India Limited, is dedicated to consistently deliver th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?