New Delhi, Oct 14 (NationPress) The European Investment Bank’s development division, EIB Global, has revealed a significant $60 million investment in the India Energy Transition Fund, a pioneering greenfield infrastructure initiative. This fund is designed to accelerate private capital infusion into sustainable infrastructure and bolster decarbonisation efforts within India.

Managed by EAAA Alternatives, the India Energy Transition Fund aims to garner $300 million in private investments for the sustainable energy landscape in India.

The fund will focus on various sectors within the Indian energy landscape, including renewable energy, energy efficiency, transmission, electric vehicles, and projects promoting a circular economy, according to the release from EIB Global.

As the nation’s first energy transition fund operated by a local fund manager, the India Energy Transition Fund seeks to channel equity and quasi-equity into greenfield infrastructure projects and growth-stage companies.

A significant portion of the investments will be directed towards initiatives focused on climate action and environmental sustainability, including battery energy storage and electric vehicles, while also potentially supporting sectors tied to the circular economy, such as recycling and wastewater management.

“India stands as one of Europe’s key partners in the global green transition. By collaborating with the India Energy Transition Fund, we aim to fast-track renewable energy initiatives, enhance energy security and affordability, and unlock avenues for sustainable infrastructure investments throughout the country,” stated EIB Vice-President Nicola Beer.

EAAA Alternatives CEO Subahoo Chordia described EIB Global as a cornerstone investor, highlighting the fund's dedication to cultivating sustainable assets through disciplined investment strategies and robust asset management practices.

Chordia further noted that this partnership will enhance credibility and depth, propelling India’s clean energy and decarbonisation initiatives while delivering long-term value for investors.

The fund is expected to facilitate the unlocking of projects currently in development, expedite the addition of new capacities, and support enterprises leading the charge in clean energy and decarbonisation solutions, as stated in the release.

The initiative also aims to promote technology and investment exchanges between India and the European Union, as noted by EIB Global.