Mumbai-based EverSource Capital has closed India’s largest climate impact fund, Green Growth Equity Fund (GGEF), at $741 million, making it one of the largest single-country funds focused on climate change, mitigation and adaptation in the emerging markets.
GGEF actively invests in and builds 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.
“EverSource aims to be a key catalyst for bringing climate finance into India as our investments have the potential of generating 450-plus billion kilowatt-hours of clean energy, avoiding 450-plus million tons of CO2 emissions, creating tens of thousands of jobs and adding over $5 billion to the Indian economy over the next decade,” said Dhanpal Jhaveri, CEO of EverSource Capital. “We are committed to bringing positive climate impact while generating strong i