Dutch development bank FMO will invest $137 million in Green Growth Equity Fund (GGEF), managed by EverSource Capital, that invests in India’ green energy space such as clean energy, transportation, resource efficiency and energy services.

GGEF targets raising equity capital up of $940 million and has National Investments and Infrastructure Fund (NIIF) of India and the UK government’s Department for International Development as anchor investors. Earlier BP Plc announced a $70 million investment in GGEF.

“The Board of the Green Climate Fund (GCF) has approved Dutch development bank FMO’s proposal to accelerate private and public sector investment in India’s green infrastructure projects,” FMO and EverSource Capital said in a joint statement on Friday.

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Source: Livemint