EverSource investments span across the sectors involved with decarbonization of energy.

Ayana Renewable Power Private Limited

Ayana Renewable Power has been launched to develop utility-scale renewable energy generation projects across India with a target to build 6GW+ platform across the next 5 years. Ayana shall achieve its platform targets through greenfield development and value accretive acquisitions for rapid scale-up. With a management team that has a track record of successful execution of renewable energy projects, Ayana is well placed to play an essential role in India’s ambition to build 175 GW of renewable energy capacity.

In doing so, it will help meet the objective of ensuring transition to low carbon power generation, creating job opportunities in the renewable power sector and contributing towards the development of communities near locations where its power projects will be set up.

For more information, please visit www.ayanapower.com

Radiance Renewables Private Limited

Radiance Renewables Private Limited (“Radiance”), incorporated in 2018, is a developer of renewable energy solutions for commercial, industrial and residential customers, helping them to simultaneously save money and achieve their sustainability goals. Radiance Renewables integrates in-house development, operational management and asset financing expertise to optimise life cycle cost of ownership and competitiveness. It aims to develop 1.5 GW of solar, wind or storage capacity in the next three to five years under a build-own-operate-transfer (BOOT or OpEx) model.

Radiance is poised to play a pivotal role in achieving this target of 40 GWs rooftop solar power and is committed to contribute towards the overall aim of 175 GWs renewable energy capacity.

For more information, please visit www.radiancerenewables.com

GreenCell Mobility Private Limited

EverSource Capital has incubated GreenCell Mobility with the vision to be a pan-India shared electric mobility player, by leveraging proven global experience, developments in e-mobility technology and Government of India’s strong push for electrification of transportation in India. GreenCell Mobility will own and operate shared EVs, initially e-buses. It aims to become the leading provider of end to end, on demand shared green transportation.

For more information, please visit www.greencellmobility.com

EverEnviro Resource Management Private Limited

EverEnviro Resource Management Private Limited (EverEnviro) is a waste management platform set up by EverSource Capital in 2019. EverEnviro aims to be a market leader in various types of waste management businesses such as urban municipal waste (MSW), hazardous waste, industrial waste, and e-waste with plans to implement leading waste management technologies and leverage the power of IoT and other Industry 4.0 technologies for increasing efficiencies. The initial focus is on MSW with a target to buy assets / build projects in areas such as Land Remediation, Collection & Transportation, Construction & Demolition, Waste to Energy, Bio-CNG, and Dry Waste Processing.

Kathari Water Management Private Limited

Kathari Water is a platform founded by EverSource Capital to catalyse private capital into the water and wastewater sector. Kathari Water aims to become the largest private-sector owner and manager of clean water assets in India over the next five years. Kathari will invest more than USD 100 million across water assets (freshwater, desalination, water reuse, waste-water treatment) in the coming years.

During FY 21, Kathari invested in a wastewater treatment project under the Clean Ganga Mission. Once the construction is complete, the project with a cumulative wastewater treatment capacity of 187 million litres per day will contribute to reducing the discharge of untreated sewage into the Ganga river from the state of West Bengal by around 15%.
For more information, please visit www.kathariwater.com

Lithium Urban Technologies

Founded in 2014, Lithium Urban Technologies Private Limited (“Lithium” or the “Company”) is India’s largest EV fleet operator providing Mobility as a Service (“MaaS”) in India. It is currently focussed on the 4-wheeler employee transportation and 3-wheeler freight segments where it is catalysing the adoption of electric vehicles through an integrated technology-enabled service offering, long-term relationships with its stakeholders and differentiated financing solutions.

Lithium aims to be the largest Pan-India e-MaaS platform focused on shared and connected mobility. The Company has developed a technology platform to optimise the use of electric vehicles and serves marquee clients like SAP, Google, Microsoft etc with 950+ vehicles on road and having an order book of 1,500+ vehicles. Lithium targets to deploy more than 4,000 vehicles by 2025 in the CET business. It has also commenced operations in the Freight segment with 3-wheeler e-vehicles deployed for Flipkart (India’s largest e-commerce company).

The Green Growth Equity Fund invested in Lithium in March 2022 and owns a 76.93% stake in the Company. For more information, please visit https://project-lithium.com

Accretive Cleantech Finance Pvt. Ltd. (Ecofy)

Incorporated in 2022, Accretive Cleantech Finance Pvt. Ltd. (“Accretive” or “Ecofy”) is a technology led dedicated Climate Finance NBFC that focuses on lending to the target sectors of rooftop solar, electric vehicles and SMEs (packaging, water, waste, building material) and is creating a green ecosystem of retail / SME customers, OEMs, fintech and green data collection.

Ecofy will emerge as a differentiated platform to provide specialised climate finance products and aims to be the financing partner of choice for OEMs / service providers / end customers supporting their green transition. Accretive received its NBFC license from the Reserve Bank of India on November 14, 2022. Ecofy’s target sectors have strong synergies with other portfolio companies of the Green Growth Equity Fund.

Accretive is 100% owned by the Green Growth Equity Fund.

For more information, please visit https://www.ecofy.co.in