BP invests $70 mn in NIIF’s Green Growth Equity Fund, becomes a partner
Global energy manager BP has invested $70 million in the Green Growth Equity Fund (GGEF), promoted by the National Investment and Infrastructure Fund (NIIF) and the UK government. BP will also be a limited partner and have representation on the fund’s advisory board.
According to an official statement, this investment will aid GGEF in rapidly scaling up no carbon and low carbon solutions that are commercially viable. This will also help India achieve its climate goals. It also provides a platform for BP to co-invest in a variety of green projects in India alongside GGEF.
EverSource Capital is the fund manager of GGEF. It has a target of $700-million green infrastructure fund with anchor investments of over $340 million from NIIF and the Department for International Development, Government of UK.
