"Eversource Capital (Eversource) , an equal JV between Everstone Capital and Lightsource BP, is India's leading climate impact fund manager. Eversource Capital is an equal joint venture between Everstone Group , one of Asia’s premier investment manager with assets in excess of US$7 billion across private equity, sustainability and climate impact, logistics, digital and venture capital; and Lightsource bp, a global leader in development and management of solar energy projects.
Eversource has raised the largest single country climate fund [Green Growth Equity Fund] in the emerging markets with a focus on energy transition and circular economy businesses and has investments in clean energy, clean water, green mobility, solid waste management and climate finance. The fund has received anchor investments from the Government of India (through NIIF) and Government of UK (through FCDO) and has many other leading global investors.
Kathari Water Management (Kathari) is a 100% owned water platform of the fund. The business model of Kathari is to invest in water and wastewater assets and generate returns over a period under the BOO (Built Own Operate) or BOT (Built Own Transfer) models. Kathari is seeking to invest in Desalination, Water Treatment, Wastewater Treatment and Sewage Treatment plants targeted at the municipal and industrial sector. In addition, Kathari would also invest in product and services companies which can actively contribute to water conservation including treatment in the urban ecosystem especially within residential and commercial buildings based on the following hypothesis."
Kathari drives to create the positive water impact project with ease of investment, making available the better technologies in water treatment, and overall promoting water sustainable projects.
- We are an impact investor: This means we invest private capital in developing and improving public or private projects in the broad area of water and wastewater treatment and reuse including investment in the business of water product and service companies.
- We are focused on outcomes: For the customer, we deliver outcomes in collaboration with our partner companies.
- We are active managers: Apart from investment, we also want to be part of the project operation & maintenance phase. We actively work with promoters of our investee companies to deliver outcomes in the most efficient manner.
- We monitor project impact: We are obsessed about creating positive impact in water management such as ensuring reduced water footprint, improving water conservation, and overall minimizing the environmental impact.
- We provide service-related solutions: This essentially means that we take capital and operating risk in any project with a view to deliver solutions as a service over a long-term performance contract. This includes operating the project in a model, per MLD of wastewater treated. Our three pillars of investment are:
- Municipal water reuse projects including desalination.
- Industrial wastewater reuse projects including Zero Liquid Discharge (ZLD) and desalination.
- Urban building water projects targeted at decentralised water treatment, water monitoring and conservation.
- We invest in Municipal Water and Desalination Projects: We develop and
operate various types of water and wastewater projects in the municipal sector
(both greenfield and brownfield) that seek to promote reduction in water
pollution, minimize ground water abstraction, reduction in freshwater
consumption, and rejuvenation of water bodies in India in compliance with the
applicable pollutant discharge standards.
Kathari Water invest in the projects such as Municipal and domestic Sewage Treatment Plant (STP), Industrial Wastewater Treatment Plants (IWTP), Water Treatment Plants including Desalination Projects. - We invest Building Water Management Projects:We invest in Building Water Management solution by offering solutions for water conservation, water monitoring and metering (intelligent monitoring and measurement) to enable urban water buildings to conserve water.
- We invest Industrial Water Reuse through ZLD Projects:We offer solutions for management of industrial wastewater treatment and reuse by financing and operating ZLD projects on a service model.
Prakash Seshadri Nathan
Executive Director & CEO
He has three decades of experience as a business leader in the private infrastructure industry. Prior to joining Kathari Water, He was the CEO for the Water, Wind Energy, and the Solar Park Business within the IL&FS Group. He had earlier worked with Asea Brown Boveri and Nuclear Power Corporation. He is an alumnus of IIM Bangalore (Post Graduate Program) and College of Engineering, Trivandrum (Bachelor of Technology). Later, he completed the International Master’s Program in Management through a network of global schools led by INSEAD. He is also an International Coaching Federation (ICF) certified Coach.
Rajeev Sharma
Business Leader – Building Water Management
Rajeev Sharma is having around 31+ years of experience ranging from sales & marketing to administration/ project management to corporate communication. He is a Postgraduate in Administration from Newport States California University. He has worked with leading organizations at senior management roles such as Hoechst India Ltd, Peregrine Security Pvt Ltd, Flextronics and Aricent Technologies, IBM Global Services, Genpact, Johnson Controls as the Customer Business Director, APS Group of Companies (as Group COO) and last assignment was with JLL PAM as National Head – COE.
Swadhin Samantaray
Business Leader – Municipal Projects
Swadhin has over three decades experience in business development, project management and project financing of Water and wastewater treatment plants. Prior to Kathari water, he has served leadership roles in major water treatment companies VA Tech Wabag and BGR Energy. He has successfully implemented large-sized sewage reclamation plants using membrane technologies, Seawater desalination plants and Industrial effluent recycling plants for different applications. He holds a bachelor’s degree in mechanical engineering and undergone membrane design training from Crane Environmental, USA.
Nilesh Dave
Head - Finance
He has 17 years of experience as a senior finance person in the private real estate development and equity fund. Prior to joining Kathari Water, He was the VP - Finance for Gera Developers, Pune (only private real estate developer with AA- rating) He had earlier worked with The Chatterjee Group (TCG) for its Prop real estate book as well as the first real estate focused fund in India. A thorough finance professional with 17 years of experience in Private Equity Investment, Corporate Finance, International/Domestic Taxation, Offshore fund structuring, Treasury Management, Accounting. He is a Chartered Accountant, Company Secretary and holds Masters in Commerce.
BOARD OF DIRECTORS
Satish Mandhana
Director
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
Shishir Maheshwari
Director
Shishir Maheshwari is an Executive Director at EverSource Capital. He has over 15 years of investment and operating experience across Private Equity funds and entrepreneurial ventures. Shishir has built new business platforms in sustainability domain at IDFC Private Equity and was the co-founder of Agribazaar.com, an agritech startup. Prior to Eversource capital, he was part of Bain-Piramal’s distress asset platform, IndiaRF, where he was leading investments across infrastructure, consumer and automotive domain. He has PGDBM from XLRI Jamshedpur and a Bachelors in Mechanical Engineering from Govind Ballabh Pant University Of Agriculture And Technology, Uttarakhand.
Prakash Seshadri Nathan
Executive Director & CEO
He has three decades of experience as a business leader in the private infrastructure industry. Prior to joining Kathari Water, He was the CEO for the Water, Wind Energy, and the Solar Park Business within the IL&FS Group. He had earlier worked with Asea Brown Boveri and Nuclear Power Corporation. He is an alumnus of IIM Bangalore (Post Graduate Program) and College of Engineering, Trivandrum (Bachelor of Technology). Later, he completed the International Master’s Program in Management through a network of global schools led by INSEAD. He is also an International Coaching Federation (ICF) certified Coach.