The Edelweiss Group-backed India Energy Transition Fund has raised $60 million (Rs 532 crore) in fresh capital from a marquee global development finance bank, as it looks to scale its investments across climate action and environmental sustainability domains, including renewable energy, energy efficiency, transmission, battery storage, and electric vehicles.
The GIFT City-registered fund, which has a target corpus of $300 million, is raising fresh capital from the European Investment Bank (EIB), the long-term lending institution of the European Union.
The India Energy Transition Fund was set up in December 2024, and is backed by Edelweiss Group’s alternative investment arm EAAA India Alternatives Ltd (formerly Edelweiss Alternative Asset Advisors Ltd), which manages more than $7 billion in assets.
The fund will make equity and quasi-equity investments in greenfield infrastructure projects and growth-stage companies in India.
The EIB typically finances investments that pursue EU policy objectives via its specialized arm EIB Global, which is looking to mobilize €100 billion in investments by the end of 2027, representing around one-third of the overall target of this EU initiative.
“This initiative shows how EIB Global, as part of the EU Global Gateway strategy, mobilises capital to deliver real climate action, better conditions for households and lower energy prices” said Nicola Beer, vice-president, EIB.
