Sanmar Group Invests in AltEons Energy to Develop 1.5 GW Renewable Power Projects

Chennai-based industrial conglomerate The Sanmar Group has made an undisclosed investment in AltEons Energy, a renewable energy platform, to support the development of more than 1.5 GW of round-the-clock renewable power projects across India.

The capital infusion is slated to help AltEons expand its integrated portfolio encompassing solar, wind, battery energy storage, and energy management solutions. The platform focuses on supplying steady renewable power to commercial, industrial, and corporate customers.

Currently, AltEons has a 210 MW hybrid project under construction in Maharashtra that combines solar, wind, and battery storage technologies. The company is working to add another 800 MW to its project pipeline by the end of the year.

AltEons provides power solutions to energy-intensive sectors, including automotive manufacturing, industrial engineering, general manufacturing, and data centres, as businesses increasingly work toward decarbonisation and Environmental, Social, and Governance (ESG) targets.

Vijay Sankar, Chairman of The Sanmar Group, stated that AltEons has built a platform focused on delivering reliable renewable power at scale, addressing a critical challenge in the broader energy transition.

Srinivasan Viswanathan, Founder and Chief Executive Officer of AltEons Energy, said the investment from Sanmar will bolster the company's capacity to build out its targeted 1.5 GW in round-the-clock projects and assist industrial clients in meeting sustainability goals.