ALTÉRRA Makes $100mn Debut Investment In India's Evren

ALTÉRRA, one of the world’s largest private climate investment vehicles, has announced its first co-investment, committing $100 million to Indian renewable energy company Evren.

The investment, made through the ALTÉRRA Acceleration Fund, marks the fund's first direct investment in the Global South. It aims to accelerate clean energy deployment in partnership with Brookfield Asset Management and other investors.

Supporting India’s energy goals

The funding will support the development and construction of up to 11 gigawatts of solar, wind and battery storage projects in Rajasthan and Andhra Pradesh. The projects are expected to contribute to India’s target of achieving 500GW of renewable energy capacity by 2030.

Evren, a key player in India’s clean energy sector, works with domestic manufacturers for wind turbines and solar modules. This approach is intended to boost supply chain resilience and drive local economic growth, while advancing the country’s renewable energy ambitions.

Leaders highlight long-term impact

“This investment is a powerful demonstration of our mission—catalyzing capital into scalable, economically compelling climate solutions,” said Majid Al Suwaidi, CEO of ALTÉRRA. “By deploying capital in India’s fast-growing economy, we are supporting affordable energy generation and unlocking investable opportunities.”

Connor Teskey, President of Brookfield Asset Management, called the investment “a significant milestone” in the firm’s efforts to accelerate the global energy transition.

“Combining Evren’s robust pipeline with Brookfield’s operational expertise, and now ALTÉRRA’s partnership, we are advancing India’s renewable targets while promoting energy security and economic development,” he said.