• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

Green Growth Equity Fund-India and UK

July 30, 2020
in Economy
Reading Time: 2 mins read
0
Green Growth Equity Fund-India and UK
138
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

UK-based energy major The British Petroleum Company plc (BP) has said it will invest $70 million into the Green Growth Equity Fund (GGEF) in India. The fund, established in 2018, is focused on identifying, investing and supporting growth in zero-carbon and low-carbon energy solutions in the country.

Green Growth Equity Fund

With a commitment of $70 million, BP will, upon investment later this year, become a limited partner in GGEF and have representation on its advisory committee, as well as the rights to co-invest in projects alongside GGEF. GGEF already includes investments from the Government of India, through the National Investment and Infrastructure Fund (NIIF), and the UK Government, through the Department for International Development (DfID).

It expects to reach about $700 million commitment at final close and grow further through leveraged capital options. GGEF is an outcome of the partnership of NIIF with the UK government. It is an alternative investment fund registered with the Securities and Exchange Board of India (Sebi). NIIF and the UK government committed £120 million each for the fund which will be managed by EverSource Capital, a joint venture of home-grown private equity firm Everstone Group and Lightsource BP.

Everstone is a multi-asset investment firm with assets under management of about $4 billion while Lightsource is a global market leader in renewable energy development and management with $3 billion of capital invested across over 2 gigawatts of solar projects globally. GGEF aims to raise £500 million from international institutional investors to invest in areas such as renewable energy, clean transportation, water, sanitation, waste management, emerging technologies and other similar industries in India.

By using a pooled investment vehicle and a public plus private partnership approach, global investors will get the opportunity to be part of this exceptional investment platform. The government had set up the Rs 40,000 crore NIIF in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.

GGEF will provide investors with a vehicle to invest at scale into one of the largest and most attractive clean energy markets in the world. Everstone’s capabilities of building successful operating companies in India and Lightsource’s global renewable energy experience will provide a strong platform for EverSource Capital to successfully execute GGEF’s investment strategy. Broadly a third of the fund would go into the regulated space, which is grid-connected renewable assets such as wind, solar, mini hydel and biomass; a third would go into off-grid strategies and a third into other clean-tech strategies around water, electric mobility etc. 

These sectors are now operating on a competitive basis where the economic model of all these businesses can be self-sustaining without any requirement for subsidies. And therefore it competes very well with traditional sources of energy and is a big opportunity. 

image_pdfMake PDF
Source: Economic Times & Live Mint
Tags: Prelims

Related Posts

Revamped CGTMSE Scheme

Revamped CGTMSE Scheme

May 1, 2023
Common Reporting Standard

Common Reporting Standard

May 1, 2023
What is Gum Arabic?

What is Gum Arabic?

May 1, 2023
World Development Report 2023: Migrants, Refugees, and Societies

World Development Report 2023: Migrants, Refugees, and Societies

April 27, 2023
Manamadurai pottery

Manamadurai pottery

April 26, 2023
Logistic Performance Index (LPI) 2023

Logistic Performance Index (LPI) 2023

April 25, 2023
Parvatmala Pariyojana

Parvatmala Pariyojana

April 22, 2023
CPCB revised the financial grants for biomass pellet manufacturing units

CPCB revised the financial grants for biomass pellet manufacturing units

April 22, 2023
Global Unicorn Index 2023 by Hurun

Global Unicorn Index 2023 by Hurun

April 22, 2023
Mission 50K-EV4ECO of SIDBI

Mission 50K-EV4ECO of SIDBI

April 21, 2023
Please login to join discussion

Our Offline Classroom Student

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« May    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In