Green Growth Equity Fund (FMO-59790)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Eversource Capital
The holder of the loan, grant, or other investment.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 4, 2021

Disclosed by Bank May 11, 2021


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Project Description

The objective of the fund is to invest in rapidly scalable and sustainable businesses in India, across four focus sectors: renewable energy, resource efficiency, e-mobility and energy services.The role of FMO with regards to the fund will be to "stimulate the Indian green economy, contributing to decarbonizing energy, resource- and environment conservation as well as the circular economy" as mentioned in the bank document. The bank will function as the accredited entity for the Green Climate Fund, which will provide additional high-risk capital to crowd in (commercial) funding.

For the current portfolio and advanced pipeline companies (containing renewable energy, e-mobility and waste management) E&S action plans have been or are being agreed on. E&S performance monitoring of portfolio companies shall be executed by dedicated E&S staff of the fund manager.

Investment Description
  • Netherlands Development Finance Company (FMO)

Eversource Capital is a joint venture between the leading Indian private equity investment firm Everstone Capital and global leader in the development and management of solar energy projects, Lightsource BP.

Contact Information

Contact details not provided at time of disclosure

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism