In a significant boost to India’s renewable energy sector, Alterra, a UAE-backed climate-focused investment fund, has committed Rs 8.3 billion (approximately $100 million) to Evren, a Mumbai-based green energy platform. The strategic investment is aimed at accelerating the development of up to 11 gigawatts (GW) of solar, wind, and battery storage projects across India.
Strengthening India’s Renewable Energy Push
This move comes at a time when India is aggressively pursuing its renewable energy goals to reduce carbon emissions and transition toward a sustainable energy future. The capital infusion by Alterra will enable Evren to scale its clean energy initiatives and strengthen its position in the fast-growing green energy infrastructure space.
Evren’s Clean Energy Portfolio and Vision
Evren is focused on building a diversified renewable portfolio that includes utility-scale solar parks, wind farms, and advanced energy storage systems. With India targeting 500 GW of non-fossil fuel capacity by 2030, this partnership underscores the growing international confidence in India’s clean energy market.
Global Climate Capital Targets Indian Market
The collaboration also highlights the rising role of global climate investment funds in supporting emerging market transitions. Alterra, with its emphasis on impactful, scalable climate solutions, sees India as a strategic market for long-term green energy investments.
Driving Clean Energy, Jobs, and Sustainability
This investment will not only accelerate project execution but also create employment opportunities and contribute to India’s clean energy security. By backing Evren, Alterra is reinforcing its commitment to combating climate change through practical, large-scale investments in renewable infrastructure.