Release date: 10 January 2024
Promoter – Financial Intermediary
EDELWEISS ALTERNATIVE ASSET ADVISORS LTDLocation
Description
The project consists in a climate fund focusing on India that supports decarbonisation and circular economy.
Objectives
The fund will invest in greenfield projects (directly into assets / platforms) in India. Supported sectors include renewable energy (generation / transmission / distribution), transport decarbonisation (EV infrastructure), industrial decarbonisation (energy efficiency), digital infrastructure, water treatment and waste recycling / management.
Sector(s)
Proposed EIB finance (Approximate amount)
USD 60 million (EUR 56 million)
Total cost (Approximate amount)
USD 300 million (EUR 281 million)
Environmental aspects
The Fund will be required to have an environmental and social policy and the appropriate management systems in place so as to comply with the EIB's social requirements. The assessment of the environmental, climate and social impacts and risks will be part of the standard due diligence process that the fund will have to carry out for each portfolio company and any underlying investment and, thereby ensuring that the portfolio and these investments are in compliance with national law and in line with the principles and standards of relevant EU environmental legislation as well as the EIB's Environmental and Social Standards.
Procurement
The EIB will require the promoter to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.
Status
Under appraisal - 18/12/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).