Evren Secures USD 100 Mn Investment From UAE’s ALTÉRRA For Clean Energy Projects

New Delhi, April 30 (KNN) ALTÉRRA, the UAE-based climate investment firm, has announced a significant USD 100 million investment in Indian renewable energy developer Evren. 

The capital injection is earmarked to support the development and construction of up to 11 gigawatts (GW) of wind, solar, and battery storage projects across India, with primary focus on Rajasthan and Andhra Pradesh states. 

Evren's operational model emphasises collaboration with domestic manufacturers for essential equipment including wind turbines and solar modules, thereby strengthening India's indigenous clean energy value chain.

The investment comes from the USD 25 billion ALTÉRRA Acceleration Fund and is complemented by additional funding from Brookfield Asset Management's Global Transition Fund II (BGTF II) and other institutional investors. 

"By deploying capital into India's fast-growing economy, we are supporting reliable and affordable energy generation and unlocking investable opportunities. 

ALTÉRRA's mission is not just to finance projects but help reshape how and where the world invests through solutions that drive impact and build resiliency," said H.E. Majid Al Suwaidi, CEO, ALTÉRRA.

The investment aligns strategically with India's ambitious renewable energy targets. 

The country has established a target of 500 GW of installed renewable capacity by 2030, a goal that industry estimates suggest will require approximately USD 300 billion in investments by the end of the decade, translating to annual investment requirements of USD 50 to USD 60 billion.

(KNN Bureau)