The European Investment Bank’s development arm, EIB Global, has announced a $60 million investment in the India Energy Transition Fund, a new greenfield infrastructure fund aimed at accelerating private capital investment in sustainable infrastructure and supporting decarbonization efforts in India. The fund, managed by EAAA Alternatives, seeks to attract $300 million in private investment for India’s sustainable energy sector, with a focus on renewable energy, energy efficiency, transmission, electric vehicles, and circular economy projects.
As India’s first energy transition fund managed by a domestic fund manager, the India Energy Transition Fund will channel equity and quasi-equity into greenfield infrastructure projects and growth-stage companies, with most commitments going towards climate action and environmental sustainability. This includes investments in battery energy storage, electric vehicles, and circular economy sectors such as recycling and wastewater management.
The partnership between EIB Global and the India Energy Transition Fund is expected to enhance credibility and depth, accelerating India’s clean energy and decarbonization efforts while providing long-term value for investors. The fund will help unlock projects under development, accelerate new capacity addition, and support companies pioneering clean energy and decarbonization solutions.
EIB Vice-President Nicola Beer emphasized the importance of India as a partner in the global green transition, stating that the investment will help accelerate renewable energy, strengthen energy security and affordability, and unlock sustainable infrastructure investment across the country. EAAA Alternatives CEO Subahoo Chordia welcomed EIB Global as a cornerstone investor, highlighting the fund’s commitment to building sustainable assets through disciplined investing and strong asset management.
The initiative also aims to facilitate technology and investment flows between India and the European Union, promoting cooperation and knowledge sharing in the field of sustainable energy. Overall, the investment is expected to play a significant role in supporting India’s transition to a low-carbon economy and achieving its climate goals. With the India Energy Transition Fund, India is poised to become a leader in the global green transition, and the partnership with EIB Global is a significant step towards achieving this goal.