Lightsource BP and Everstone Group have set up a 50:50 India-focused green fund management joint venture called EverSource Capital. The JV aims to raise £500m ($710m) and will manage the state-backed Green Growth Equity Fund (GGEF), which will target contracted power, distribution infrastructure and energy services in India. “India is one of our largest markets for renewable energy, so we are looking at opportunities there,” said Ravi Gupta, managing director of Eversource.
Lightsource BP and Everstone Group have set up a 50:50 India-focused green fund management joint venture called EverSource Capital. The JV aims to raise £500m ($710m) and will manage the state-backed Green Growth Equity Fund (GGEF), which will target contracted power, distribution infrastructure and energy services in India. GGEF, which has already been given a combined £240m funding by the UK and Indian governments, has said it will typically invest between $10m to $250m per project.