ALTÉRRA, the world’s largest private climate investment vehicle, and Brookfield Asset Management have jointly invested $100 million in Evren, a clean energy platform in India. This investment aims to accelerate the country’s development of renewable energy projects.
Investment Details
The $100 million investment will support the development and construction of up to 11 GW of solar, wind, and battery storage projects in the Indian states of Rajasthan and Andhra Pradesh. This initiative contributes to India’s goal of achieving 500 GW of renewable energy capacity by 2030.
ALTÉRRA’s contribution comes through its Acceleration Fund, marking its first direct investment in the Global South. Brookfield’s involvement is part of its Global Transition Fund II (BGTF II), which focuses on clean energy investments in emerging markets.
Statements from Leadership
H.E. Majid Al Suwaidi, CEO of ALTÉRRA, stated, “ALTÉRRA’s investment in Evren is a powerful demonstration of our mission in action, catalyzing capital into tangible, scalable, and economically compelling climate initiatives.”
Connor Teskey, President of Brookfield Asset Management, said, “By integrating Evren’s deep development pipeline with Brookfield’s long-standing operating experience, we’re not only enabling India’s ambitious renewable energy goals but also promoting economic development and energy security.”
Broader Impact
This investment will expand India’s renewable energy infrastructure, drive economic development, and help global climate targets. By entering into local partnerships for wind turbine and solar module production, Evren hopes to make supply chains more robust and generate local economic development.
