EverSource Closes India’s Largest Climate Impact Fund at US$ 741 million

EverSource Capital (EverSource) has completed the final close of India’s largest climate impact fund, Green Growth Equity Fund (the Fund), at US$ 741 million, making GGEF one of the largest single-country funds focused on Climate change, Mitigation and Adaptation in the emerging markets.

EverSource is investing to combat climate change by focusing on the decarbonization of energy and resource efficiency while generating superior investment returns. The Fund actively invests in and builds innovative, digitally empowered, rapidly scalable climate-positive businesses and platforms spanning renewable energy, energy efficiency, e-mobility, resource conservation, waste and water management and associated value chains.

Commenting on the final close, Dhanpal Jhaveri, CEO, EverSource Capital, said, “EverSource aims to be a key catalyst for bringing climate finance into India as our investments have the potential of generating 450+ billion kilowatt-hours of clean energy, avoiding 450+ million tons of C0₂ emissions, creating tens of thousands of jobs and adding over US$ 5 billion to the Indian economy over the next decade. We are committed to bringing positive climate impact while generating strong investment returns and performance.”

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Eversource has invested in firms in the RE, shared mobility and water and waste management so far. Key investments include Ayana Renewable Power Private Limited, Radiance Renewables, Green Cell Mobility (EV and Electric Mobility), EverEnviro Resource Management Private Limited, and Kathari Water Management.