Eversource Capital, a private equity firm, has successfully raised $741 million for India’s largest climate impact fund, the Green Growth Equity Fund.
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The fund will focus on investing in climate-positive businesses that promote energy efficiency, renewable energy, electric mobility, resource conservation, waste and water management, and resource efficiency.
The CEO of Eversource Capital, Dhanpal Jhaveri, stated that the fund will not only contribute towards decarbonization efforts but also create jobs and stimulate the Indian economy. The fund has received investments from various global entities, including the UK government, CDC, National Investment and Infrastructure Fund, Anchor Capital, IDFC Alternatives, and Ayana Renewable.
Frequently Asked Questions
What is the objective of Eversource’s India Climate Impact Fund?
Eversource’s India Climate Impact Fund aims to invest in projects that combat climate change by decarbonizing energy and promoting green growth in India.
How much money did Eversource’s India Climate Impact Fund close at?
Eversource’s India Climate Impact Fund closed at US$ 741 million, making it the largest single-country fund focused on climate change, mitigation, and adaptation in emerging markets.
What types of projects will Eversource’s India Climate Impact Fund support?
Eversource’s India Climate Impact Fund will support projects that contribute to India’s green growth initiatives by investing in renewable energy, energy efficiency, and sustainable infrastructure development.
What is the significance of Eversource’s India Climate Impact Fund being the largest in India?
Eversource’s India Climate Impact Fund being the largest in India signifies the growing interest of investors in climate change mitigation and adaptation projects. It also highlights the potential for green growth in India and the need for sustainable infrastructure development.
Who are the investors in Eversource’s India Climate Impact Fund?
Eversource’s India Climate Impact Fund has a diverse group of investors, including institutional investors, family offices, and high net worth individuals, both from India and abroad.
How will Eversource’s India Climate Impact Fund contribute to India’s green growth initiatives?
Eversource’s India Climate Impact Fund will contribute to India’s green growth initiatives by investing in projects that promote sustainable development, create job opportunities, and reduce greenhouse gas emissions. It will also support the government’s efforts to achieve its renewable energy and climate change targets.
