umbai: EverSource Capital, the joint venture between private equity firm Everstone Capital and global solar project developer Lightsource BP, is looking to invest over $1 billion in renewable energy investments through its Green Growth Equity Fund, said a senior company executive.The National Investments and Infrastructure Fund (NIIF) of India and the UK government are anchor investors in Green Growth Equity Fund.
“We have done the anchor close. UK’s DFID and NIIF and, we as GP (general partner), have committed significant capital. So, we are at $340-350 million, and close to 50% of our target. We have now started the process to reach out to investors both in India and outside of India. The target is to raise around $700 million,” said Dhanpal Jhaveri, managing partner, Everstone Capital and chief executive officer (CEO), EverSource Capital.