ALTERRA, a leading global investor in sustainable infrastructure, has made a significant investment in Evren, a renowned green energy platform in India. This strategic investment is a testament to ALTERRA’s commitment to supporting the growth of renewable energy in emerging markets. Evren, founded in 2019, has established itself as a pioneer in the Indian green energy sector, focusing on the development, construction, and operation of solar and wind power projects.
The investment from ALTERRA will enable Evren to accelerate its expansion plans, targeting the development of over 1 GW of renewable energy capacity in the next few years. This will not only contribute to India’s ambitious renewable energy targets but also help reduce the country’s reliance on fossil fuels, thereby mitigating climate change.
Evren’s business model is centered around providing clean energy solutions to commercial and industrial (C&I) customers, helping them reduce their carbon footprint and energy costs. The company has already amassed a significant portfolio of projects, with a strong pipeline of future developments. ALTERRA’s investment will provide the necessary financial backing to support Evren’s growth ambitions, enabling the company to capitalize on the vast opportunities present in India’s thriving renewable energy market.
The partnership between ALTERRA and Evren is also expected to facilitate the sharing of knowledge, expertise, and best practices in the development and operation of renewable energy projects. ALTERRA’s extensive experience in investing in sustainable infrastructure globally will be invaluable in helping Evren navigate the complexities of the Indian market and optimize its project development and execution capabilities.
India has set an ambitious target of achieving 40% of its installed power generation capacity from non-fossil fuel sources by 2030. The government has implemented various policies and initiatives to support the growth of the renewable energy sector, including auctions for solar and wind power projects, tax incentives, and grid connectivity initiatives. As a result, India has emerged as one of the most attractive markets for renewable energy investments, with a vast potential for growth and development.
In conclusion, ALTERRA’s investment in Evren marks a significant milestone in the growth of India’s green energy sector. The partnership is expected to accelerate the development of renewable energy projects, supporting India’s transition to a low-carbon economy and contributing to a sustainable future. With the right financial backing and expertise, Evren is poised to become a leading player in the Indian renewable energy market, helping to reduce the country’s carbon footprint and promoting a cleaner, greener environment.