Evren, a joint venture platform of Brookfield and Axis Energy, has secured a significant investment of $100 million from Alterra, the world’s largest private climate investment vehicle. This strategic partnership underscores our commitment to advancing India’s renewable energy infrastructure and supporting the nation’s ambitious target of achieving 500 GW of renewable energy capacity by 2030.
Evren, established in 2019 as a joint venture between Brookfield Asset Management and Axis Energy, combines Brookfield’s global investment expertise with Axis Energy’s extensive experience in renewable energy project implementation.
The recent $100 million investment from Alterra, channelled through its $25 billion Acceleration Fund, will support the development and construction of up to 11 GW of solar, wind, and battery storage projects in Andhra Pradesh and Rajasthan. By working with local wind turbine and solar module manufacturers, Evren aims to enhance supply chain resilience and stimulate economic growth, aligning with India’s renewable energy goals.
This investment marks Alterra’s first direct commitment in the Global South and highlights the growing international confidence in India’s renewable energy sector.
Axis Energy remains dedicated to fostering sustainable development and energy security in India through innovative partnerships and strategic investments.
Sri Murali Surapaneni, CEO of Axis Energy said, “We are glad to see Evren, our joint venture with Brookfield Asset Management, receive a $100 million investment from Alterra. This milestone is a testament to the robust potential of our collaboration and the growing confidence in India’s renewable energy sector. Alongside Brookfield, Axis Energy remains committed to driving the clean energy transition in India. Our joint venture platform, Evren, continues to play a key role in supporting India’s ambitious renewable energy targets. With this new investment, we are poised to accelerate the development of vital solar, wind, and battery storage projects across Rajasthan and Andhra Pradesh, contributing to energy security, economic growth, and a sustainable future for the nation.”