EverSource Capital closes climate impact fund at $741-M

EverSource Capital, a JV between private equity firm Everstone Capital and Lightsource BP, has completed the final close of India's largest climate impact fund, Green Growth Equity Fund, at INR 5,520 crore (USD 741 million). The UK government and India's National Investment and Infrastructure Fund (NIIF) are the investors in EverSource and have committed over GBP 240 million in anchor capital. EverSource is aiming to combat climate change by focusing on the decarbonization of energy and resource efficiency. The recently closed fund invests in and builds climate-positive businesses and platforms spanning renewable energy, energy efficiency, e-mobility, resource conservation, waste and water management and associated value chains.