The fund, managed by EAAA Alternatives, will back renewable energy, EVs, and circular economy projects to speed up India’s decarbonisation drive

The European Investment Bank’s development arm, EIB Global, has committed up to USD 60 million to the India Energy Transition Fund, a new USD 300 million greenfield infrastructure fund managed by EAAA Alternatives.

Announced in New Delhi, the partnership marks the first energy transition fund in India managed by a domestic fund manager. It will channel equity and quasi-equity into greenfield infrastructure projects and growth-stage companies focused on renewable energy, energy efficiency, transmission, battery storage, and electric mobility. 

A portion of the investment will also target circular economy initiatives, including recycling and wastewater management, aligning with India’s climate goals and the European Union’s Global Gateway strategy to promote sustainable connectivity.
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“India is one of Europe’s most important partners in the global green transition. By joining forces with the India Energy Transition Fund, we are helping to accelerate renewable energy, strengthen energy security and unlock sustainable infrastructure investment across the country,” said European Investment Bank (EIB) Vice-President Nicola Beer.

Subahoo Chordia, Chief Executive Officer, EAAA Alternatives, said the partnership adds “depth and credibility” to India’s clean energy efforts. “EIB Global’s participation as a cornerstone investor will help attract further private capital and deliver long-term value for investors while driving India’s decarbonisation journey,” he added.

The fund aims to provide growth equity that enables projects under development to reach financial closure, add new capacity, and back firms pioneering clean energy and decarbonisation technologies. It also seeks to create opportunities for technology and capital flow between India and the European Union.