Dutch development bank FMO to invest $137 mn in India’s Green Growth Equity Fund
Apr 2021 Corporate
Dutch development bank FMO will invest $137 million (about ₹1,000 crore) in India’s Green Growth Equity Fund (GGEF), managed by EverSource Capital, while the fund aims to raise a total of $940 million.
GGEF is raising the capital to invest in the country’s green infrastructure sectors such as renewable energy, transport, resource efficiency and energy services. The fund will also invest in value chain, water, waste and transport sectors that promote low carbon and climate-resilient initiatives.
The fund-raising was approved by South Korea-based Green Climate Fund’s (GCF) board, the world’s largest dedicated climate fund, EverSource Capital and FMO said in a joint statement.