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ALTÉRRA Invests $100 Million in Evren to Develop 11 GW Renewable Projects in India

ALTÉRRA, a major private climate investment platform, will invest $100 million into Indian renewable energy firm Evren, a joint venture between Axis Energy Ventures India and Brookfield Asset Management. This funding will help develop up to 11 GW of solar, wind, and battery storage projects in Rajasthan and Andhra Pradesh. Evren has set a target to build 6 GW of renewable energy assets in the next 2–3 years.

The investment is part of a broader climate strategy where ALTÉRRA is working with Brookfield Global Transition Fund II, alongside other institutional investors. Notably, ALTÉRRA is Brookfield’s largest third-party investor. It was launched during COP28 with a $30 billion commitment from the UAE, and aims to mobilize $250 billion globally by 2030.

ALTÉRRA is backed by two major funds: the $25 billion Acceleration Fund, focused on scaling net-zero transition projects, and the $5 billion Transformation Fund, which supports high-growth climate ventures in underserved markets.

In related industry news, TPG acquired Siemens Gamesa’s onshore wind business in India and Sri Lanka, marking ALTÉRRA’s first Global South Initiative investment. Meanwhile, solar corporate funding in Q1 2025 reached $4.8 billion, showing strong QoQ growth despite YoY decline, with venture capital funding surging 237% YoY.