Meet the team

EverSource team has a strong track record including more than 100 investments, a combined leadership experience of over 50 years in private equity and infra-equity with investments amounting to over USD 2.8 billion invested in India.

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Dhanpal Jhaveri

Chief Executive Officer

Dhanpal Jhaveri is Vice Chairman at Everstone Group, a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. He is also the CEO for EverSource Capital, which is a joint venture between Lightsource BP and Everstone Capital to make green and sustainable investments in India. Dhanpal’s previous experience includes Director (Corporate Strategy) with Vedanta Resources Plc, Head of Investment Banking at ICICI Securities and Partner for Corporate Finance at KPMG. Dhanpal has a Bachelor of Commerce from the University of Mumbai and a Master of Business Administration from Babson College.

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Carol Borg

IC Member

Carol Borg joined Lightsource bp in December 2017 and is globally responsible for performance and risk management, strategy, tax, finance and accounting and contributing to Lightsource bp’s vision to become the first global brand for solar. As a finance professional, Carol has extensive international experience leading key interventions in working capital management, entering new and emerging markets, risk management and business continuity, implementing shared service centres and generally challenging the status quo across the natural resources and renewable energies sectors. Prior to joining Lightsource bp, Carol held various senior financial positions at Vestas Wind Systems (a global leader in wind energy) over a period of 10 years based in Australia, Denmark and Spain, resigning from her position as Senior Vice President, Finance, Southern Europe, Middle East, North Africa and Latin America to join Lightsource bp . Carol holds a degree in Business (Accounting) from Victoria University in Australia, and is a Certified Practicing Accountant.

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Satish Mandhana

Senior Managing Director & CIO

Satish Mandhana is a Senior Managing Director and Chief Investment Officer at EverSource. With over 36 years’ experience, Satish is a pioneer in creating scaled platforms in RE, telecom, hostels, etc. As Managing Partner and CIO at IDFC Alternatives, Satish made 28 investments deploying USD 1.0 billion and monetizing 26 investments in full or partial exits

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Prasanna Desai

Managing Director & Head of Operations

Prasanna Desai joined EverSource in 2018. Prasanna has over 20 years’ experience in corporate finance, investment banking, real estate and solar energy. In his last assignment, he was the Chief Operating Officer for Kiran Energy Solar, a leading private equity funded solar utility. His previous roles include Executive Director at F&C REIT Asset Management, Director at KPMG Corporate Finance and Vice President at Citigroup. Prasanna has a Master’s in Management Studies from the University of Mumbai, a Master’s in Economics & History from the University of Mumbai and Bachelor’s in Engineering from Nagpur University

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Maheep Jain

Managing Director

Maheep has over 13 years of experience in energy and private equity sector. Prior to EverSource Capital, he was an Investment Director in the infrastructure equity team at CDC Group where he led several investments across South Asia and Africa, which include acquisition of majority stake in the largest Africa focussed power generation platform, investment in and successful exit from one of the largest renewable energy players in India and set-up of a South Asia renewable energy platform.

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Rishi Shukla

Executive Director

Prior to EverSource, Rishi was an Associate Director at GIP India (erstwhile Infrastructure division of IDFC Alternatives) where he played a pivotal role in building its majority owned platforms for roads and freight terminal investments. During his decade long career in Indian PE and infrastructure equity space, Rishi has worked on 15 transactions including 7 investments and 8 exits, primarily focussing on roads, renewables, oil & gas, power T&D and construction sectors.

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Andrew Jasudasen

Senior Vice President

Andrew has 10 years of experience in energy and infrastructure investment sector. Prior to EverSource, he was an Investment Manager at Lightsource BP where he raised $200m of strategic capital from BP and formed a £1bn partnership with Blackrock. He was also a key member of the team that formed EverSource Capital in joint venture with Everstone Capital Prior to that Andrew was at Macquarie Capital in London

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Anooshree Sinha

Executive Director, Head of Legal and Compliance

Anooshree has over 16 years’ experience in private equity, M&A and investment funds. Prior to EverSource, she has been counsel and partner at leading law firms in India and has worked with an international microfinance fund in Boston, USA. Anooshree has extensive experience in advising PE funds, multinationals and Indian promoter groups on investments, acquisitions, divestments and business transfers in telecom, infrastructure, finance, healthcare and media sectors. She has also worked with leading asset managers and institutional investors on structuring cross-border investment platforms, co-managed structures, feeder funds and AIFs. Anooshree holds a B.A. LL.B (Hons) from National Law School of India University, Bangalore and an LL.M from Harvard Law School. She is admitted to practise law in India and New York.

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Tejaswini Kamat

Head, ESG & Impact

Tejaswini heads ESG & Impact at EverSource Capital. She has over 14 years of global experience in EHS, Social & Sustainability services. Prior to joining EverSource, Tejaswini held leadership positions at ERM & Stantec. Her expertise involves working across the investment lifecycle including mergers and acquisitions, operational excellence, supply chain management and asset retirement. She has led several regional and international assignments across wide range of sectors including Manufacturing, Private Equity Funds, Chemical, Pharmaceuticals & Lifesciences, IT & Infrastructure, Renewable Energy amongst others. Tejaswini enjoys mentoring students on environmental education and being part of strategic thought-leadership forums.

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Rupali Gupta

Senior Advisor

Rupali Gupta joined EverSource in February 2019 and has over 20 years of experience across private banking, corporate treasury, investor relations and fund raising. She has used her in-depth understanding of investor preferences and institutional relationships to raise over USD 2 billion for emerging market funds. In her last assignment, Rupali was Head of Investor Relations at Africa50, a pan Africa infrastructure investment platform. Before joining Africa50, she served as Director of the Investor Management Group at IDFC Alternatives, one of the largest multi-asset class investors in India. She has also held positions with True North, Morgan Stanley India and Kotak Securities. Rupali holds a Master’s in Management Studies from the University of Mumbai and a Bachelor’s in Science from the University of Mumbai.

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Atul Dafria

Vice President, Finance

Atul has more than 13 years of work experience in the private equity industry, and is involved in finance, audit, tax, operation and compliance functions of the business. Prior to EverSource Capital, he was part of asset management business of Avendus Group and was responsible to manage finance, operation and compliance function for Zodius Technology Funds, Avendus PIPE Funds, Avendus Structured Credit Fund. He has been also associated with IL&FS and PricewaterhouseCoopers (PwC)

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Kuldip Kaura

Senior Director

Kuldip serves as a Senior Director at EverSource, advising on EverSource’s portfolio companies. In total, he has over four decades of experience in the areas of engineering and mining. Kuldip is currently also involved in advising EverSource on its waste management, energy efficiency and water strategies. Before joining EverSource, Kuldip served as CEO at Vedanta Resources, one of the world’s largest natural resources companies, where he was actively involved in its listing on the London Stock Exchange. He has also served as Managing Director and Country Manager for ABB India, a pioneer in power and automation technologies. Kuldip graduated with a Bachelor of Engineering in Mechanical Engineering from Birla Institute of Technology & Science and has participated in Executive Education programmes at both London Business School and the Swedish Institute of Management.

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Ranjan Mathai

Director

Ranjan serves as a Member of the Board of Directors of EverSource and advises on its portfolio companies. He is a former Foreign Secretary of India and has held several key positions in the Ministry of External Affairs - Government of India including as Joint Secretary. Ranjan was also an Ambassador of India in Israel, Qatar and France as well as a High Commissioner of India to the United Kingdom. He is an alumnus of National Defence College – New Delhi and also holds a master’s degree in political science from University of Pune.

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Bahram Vakil

Director

Bahram serves as a Member of the Board of Directors of EverSource and provides his counsel on the portfolio companies. He is amongst India’s foremost restructuring, infrastructure and project finance attorneys and has been acknowledged as a leading lawyer by most international publications. Bahram is one of the founding partners of AZB & Partners, a reputed legal firm based out of India. He has also worked at Debevoise & Plimpton and Little & Co. Bahram is a member of New York Bar Association and an alumnus of Columbia University from where he completed his LLM.

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Shivanand Nimbargi

Managing Director – Ayana Renewable Power Private Limited

Shivanand is the Managing Director for Ayana Renewable Power Private Limited, the utility platform of EverSource. He has over 20 years of experience in the power sector across project management, execution and business development. Prior to EverSource, Shivanand served as the CEO & MD of Green Infra Limited. He has held various senior roles at Alstom India for 15 years and was on the Board of NTPC-Alstom. Shivanand has a Bachelor of Engineering (Mechanical) and has pursued Advance Management Program at INSEAD.

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Manikkan Sangameswaran

Executive Director - Radiance Renewables Private Limited

Manikkan serves as Executive Director of Radiance Renewables, the renewables energy C&I platform being developed by EverSource. He has over 25 years of experience in the areas of financial services straddling Investment Banking (including equity research, M&A, Capital markets) and Investment management functions and more recently as a renewable energy entrepreneur. Before joining Radiance, Manikkan was the Co-founder and Founder Director – Origin Renewables Pvt. Ltd. He has also worked for ICICI Venture Funds Management Co. Ltd., Babcock & Brown India Pvt. Ltd. and ABN AMRO Asia Corporate Finance Pvt. Ltd. Manikkan completed his Bachelor of Engineering (Mechanical) from the University of Mumbai, Master of Management Studies from University of Mumbai, Master’s in Business Economics from the University of Buckingham, UK and Post Graduate Diploma in Securities Law from the Government Law College, Mumbai.

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Ashok Agarwal

Managing Director - GreenCell Mobility Private Limited

Ashok is the MD & CEO for GreenCell Mobility, the e-Mobility platform of EverSource. Before joining GreenCell, he served as the CEO of Essel Green Mobility. He has over 20 years of experience in the Power, Telecom, FMCG and Manufacturing sectors working with companies such as Etisalat DB Telecom, Reliance Communication, Bharti Airtel, Coca Cola and Hindustan Lever. Ashok graduated with a Bachelor’s in Mechanical Engineering and Post Graduate in Management Studies from IIT Kharagpur.