EAAA India Alternatives Launches Energy Transition Fund with $175M First Close
EAAA India Alternatives, part of Edelweiss Group, launched its India Energy Transition Fund (IETF) to invest in greenfield energy projects with a first close of $175 million. The fund aims to reach a $500 million target within 18 months. The European Investment Bank committed $60 million, recognizing India's potential for renewable energy growth. IETF plans to create platforms targeting power transmission, utility-scale renewables, and commercial solar. By leveraging equity, IETF could support projects worth $2 billion.
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EAAA India Alternatives, the real assets arm of Edelweiss Group, announced the first close of its India Energy Transition Fund (IETF) at $175 million in October 2023, aiming for a $500 million target within 18 months. The fund received a $60 million commitment from the European Investment Bank (EIB), highlighting India's attractive energy transition market.
IETF will focus on greenfield projects in power transmission, utility-scale renewable energy, and commercial solar, potentially leveraging its equity to build $2 billion in projects. The fund manager plans to hire experienced personnel and establish partnerships for electric vehicles and infrastructure, while avoiding hydrogen projects. EAAA India Alternatives' existing platform, Sekura, supports its operational capabilities.
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