EIB Global, the development arm of the European Investment Bank (EIB), will invest up to $60 million in the India Energy Transition Fund. It is a new greenfield infrastructure fund managed by EAAA Alternatives aimed at accelerating private capital investments in sustainable infrastructure and advancing India’s decarbonisation goals.
Furthermore, the fund has a target size of $300 million and will channel equity and quasi-equity in greenfield infrastructure projects and growth-stage companies. The majority of investments will focus on climate action and environmental sustainability. This will include renewable energy, energy efficiency, transmission, battery energy storage, and electric mobility. It will also include potential support for circular economy sectors such as recycling and wastewater management.
ElB is the long-term lending institution of the European Union (EU), owned by its member states. It finances investments that pursue EU policy objectives. EIB has supported over 100 projects in India. It has invested €5.6 billion in India’s transport and energy projects, as well as in its small and medium enterprises and mid-caps.
