EIB Global backs India Energy Transition Fund with $60m investment

Core Insights - EIB Global has committed an investment of up to $60 million to the India Energy Transition Fund, which focuses on renewable energy, energy efficiency, and electric vehicles to support India's decarbonisation goals [1][3] - The India Energy Transition Fund is India's first energy transition fund managed by a domestic fund manager, aiming to raise $300 million by the end of the year [2] - EAAA Alternatives plans to invest approximately Rs400 billion ($4.52 billion) in India's clean energy sector over the next four to five years, targeting the development of around 8GW of projects [2] Investment Focus - The fund will direct equity and quasi-equity into greenfield infrastructure projects and growth-stage companies [2] - It has the potential to support circular economy industries, including recycling and wastewater management [3] Strategic Importance - EIB Global's partnership is part of the EU Global Gateway strategy, aimed at mobilising capital for climate action and improving energy conditions [4] - The initiative seeks to facilitate technology and investment exchanges between India and the EU, with India aiming to double its non-fossil fuel power generation capacity to 500GW by 2030 [5]