Altérra Invests $100M in India’s Clean Energy Future

In a significant lift to India's clean energy goals, ALTÉRRA, the world's largest private climate investment fund, has made its first direct Global South investment—injecting $100 million into Evren, India's premier renewable energy platform. The investment, which was made via the ALTÉRRA Acceleration Fund, forms part of an overall co-investment with the Brookfield Global Transition Fund II and other co-investors.

This injection of funds will finance development and construction work on as many as 11 gigawatts (GW) of solar, wind, and battery storage developments in major Indian states such as Rajasthan and Andhra Pradesh. The massive scale project is to play a leading role in bringing India's overall goal of reaching 500GW of renewable power capacity by the year 2030, further propelling India's energy transformation while addressing its fast-rising energy demand.

India, which is expected to be the world's fastest-growing major economy in 2024 with an estimated GDP growth of about 6.5%, has a growing energy demand because of industrialization and population growth. The experts are estimating that supplying this demand using clean energy might cost up to $300 billion by 2030. ALTÉRRA's strategic funding not only accounts for this fiscal need but also bolsters investor faith in India's changing energy sector.

H.E. Majid Al Suwaidi, CEO of ALTÉRRA, highlighted the change-making power of this investment, adding that it supports the organization's mission to catalyze capital into scalable, tangible climate programs. "ALTÉRRA's investment in Evren is a strong reflection of our mission in action—catalyzing capital into tangible, scalable, and economically viable climate initiatives," Al Suwaidi said. "By investing capital in India's rapidly expanding economy, we are enabling secure and affordable energy production and unlocking investable opportunities."

This collaboration places Evren as a strong player in India's clean energy industry. Apart from boosting renewable energy capacity, the projects will also provide support for energy storage infrastructure, thus making the grid more reliable and flexible. Additionally, through close cooperation with domestic manufacturers of wind turbines and solar modules, Evren is enhancing domestic supply chains, providing jobs, and promoting long-term economic resilience.

India's clean energy sector has become increasingly appealing in recent years on the back of a sequence of regulatory reforms and advances in energy storage technology. These have enhanced the investment environment and facilitated scalable, affordable solutions, making it an attractive place for international climate-oriented capital. ALTÉRRA's entry into this segment is a testament to increasing global confidence in India's policy environment and renewable energy infrastructure.

Aside from the dollars, this investment signals a strategic turning point in the deployment of climate capital—away from conventional markets toward growing economies confronting the most urgent climate and energy issues. For ALTÉRRA, this is not merely funding discrete projects; it is altering global patterns of investment to build long-term climate resilience and inclusive growth.

"ALTÉRRA's purpose is not only to fund projects but redefine how and where the world invests through solutions that promote impact and resiliency building," Al Suwaidi said. This ethos is particularly pertinent in areas such as the Global South, where the transition to energy is at once a pressing necessity and a substantial economic opportunity.

Through this transaction, ALTÉRRA establishes a model for private climate investment that drives systemic transformation, especially for nations such as India, which is walking a fine line between development objectives and environmental stewardship. With India pressing on to become a world clean energy champion, the injection of global capital and international expertise will be instrumental in making its renewable dreams a reality.

By supporting Evren, ALTÉRRA is not only driving India's energy transition but also supporting global climate objectives, reaffirming the position of strategic, impact-focused finance in creating a sustainable future for everyone.