India Energy Transition Fund marks first close, EIB arm commits $60 mn

The India Energy Transition Fund, managed by EAAA Alternatives, has achieved its first close at $163 million with a commitment of $60 million from the European Investment Bank’s development arm, EIB Global.

The total corpus of the fund is targeted at $300 million, which will be invested in greenfield infrastructure projects and growth-stage companies.

The announcement was made on Tuesday in New Delhi by EIB vice president Nicola Beer and EAAA Alternatives chief executive Subahoo Chordia.

“EIB’s development arm, EIB Global, is investing up to $60 million in the India Energy Transition Fund, a new greenfield infrastructure fund that will accelerate private capital investment in sustainable infrastructure and support decarbonisation efforts in India. It is the country’s first energy transition fund managed by a domestic fund manager,” said a joint statement from EIB Global and EAAA Alternatives.

Most commitments will focus on climate action and environmental sustainability, including renewable energy, energy efficiency, transmission, battery energy storage, and electric vehicles. This may also potentially support circular economy sectors such as recycling and wastewater management, the statement said.

“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 affordability and unlock sustainable infrastructure investment across the country. This initiative shows how EIB Global, as part of the EU Global Gateway strategy, mobilizes capital to deliver real climate action, better conditions for households and lower energy prices,” said Beer.

Chordia added that EIB Global’s partnership adds depth and credibility to this effort, “helping us accelerate India’s clean energy and decarbonization journey while delivering long-term value for investors. Together, we will foster innovation, attract further private capital, and drive long-term sustainable growth”.

Along with accelerating new capacity additions and supporting companies that pioneer clean energy and decarbonization solutions, the initiative also aims to create opportunities for technology and investment flows between India and the European Union.

EIB Global aims to support €100 billion of investment by the end of 2027. This investment by EIB Global is part of the European Union’s Global Gateway Investment Agenda, supporting projects that improve global and regional connectivity in the digital, climate, transport, health, energy, and education sectors.

EAAA Alternatives has approximately $7.3 billion in assets under management (AUM) as of 30 June 2025. The firm operates a diversified, multi-strategy alternatives platform, investing in large, structural opportunities.