The National Investment and Infrastructure Fund of India (NIIF) and Eversource Capital have decided to invest in Ayana, the renewable energy platform founded by UK’s development finance institution CDC.
EverSource Capital also manages Green Growth Equity Fund (GGEF).NIIF and CDC are limited partners in GGEF. A limited partnership exists when two or more partners unite to conduct a business in which one or more of the partners is liable only to the extent of the amount of money that partner has invested.
The Green Growth Equity Fund is a sub-fund of NIIF.It is promoted jointly by India and the UK which aims to leverage private sector investment to finance investments in the green infrastructure space in India.
The Fund invest in mid to large-sized companies in the green infrastructure space in India. GGEF is managed by a third-party investment manager, selected by NIIF Limited and the UK government through an efficient and robust screening and selection process.
NIIF was set up in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects in the infrastructure sector. NIIF invests in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.