Evren, a renewable energy platform launched by Brookfield in India, has secured a $100 million investment from climate investment fund ALTÉRRA, Brookfield Asset Management and other investors to support the development of up to 11 GW of solar, wind and battery storage projects in Rajasthan and Andhra Pradesh
ALTÉRRA made the investment through ALTÉRRA Acceleration Fund.
“ALTÉRRA’s investment in Evren is a powerful demonstration of our mission in action—catalyzing capital into tangible, scalable, and economically compelling climate initiatives. By deploying capital into India’s fast-growing economy, we are supporting reliable and affordable energy generation and unlocking investable opportunities,” said Majid Al Suwaidi, CEO of ALTÉRRA.
Connor Teskey, president of Brookfield Asset Management, added, “ALTÉRRA’s investment in Evren is a significant milestone in our ongoing commitment to accelerating the global energy transition. By combining Evren’s robust development pipeline and Brookfield’s extensive operational expertise, we are not only supporting India’s ambitious renewable energy targets but also fostering economic growth and energy security.”
As the world’s fastest-growing major economy in 2024 with an expected 6.5% GDP growth rate, India is racing to meet its surging energy demand with clean power. The strong demand for renewable energy, potentially translating to a $300 billion investment requirement by 2030, is not only being driven by economic growth but also breakthroughs in energy storage, large-scale infrastructure expansion and the Government’s effort to make the renewable power investment environment more robust for investors, enhanced by several regulatory measures.
Evren is backed by Brookfield’s Global Transition Fund II (BGTF II). ALTÉRRA is BGTF II’s largest third-party investor, following a $2 billion commitment made during COP28.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.