EIB Global joins forces with India Energy Transition Fund, commits $60 million

EIB Global, the European Investment Bank’s development arm, has committed $60 million to the India Energy Transition Fund, a new greenfield infrastructure fund. This marks an important step towards accelerating private capital investment in sustainable infrastructure and supporting India’s decarbonisation efforts.

It is the first energy transition fund run by a domestic fund manager in the nation. The announcement was made on Tuesday, October 15, in New Delhi by EIB

Vice-President Nicola Beer and Subahoo Chordia, CEO of EAAA Alternatives.

With the target size of $300 million, the India Energy Transition Fund will channel equity and quasi-equity into greenfield infrastructure projects and growth-stage companies.

In addition to potentially helping circular economy sectors like recycling and wastewater management, the majority of contributions will go toward climate action and environmental sustainability, which includes renewable energy, energy efficiency, transmission, battery energy storage, and electric cars.

During the announcement, EIB Vice-President Nicola Beer highlighted the strategic importance of the partnership. "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, mobilises capital to deliver real climate action, better conditions for households and lower energy prices,” Beer added.

Calling the EIB Global's $60 million commitment a ‘cornerstone investment’, CEO of EAAA Alternatives Subahoo Chordia noted that the fund would help accelerate India’s clean energy and decarbonisation journey.

“We are delighted to welcome EIB Global as a cornerstone investor in the India Energy Transition Fund. India’s energy transition is both a priority of the country and an attractive investment opportunity. At EAAA Alternatives, we are focused on building sustainable assets through disciplined investing and strong asset management. EIB Global’s partnership adds depth and credibility to this effort, helping us accelerate India’s clean energy and decarbonisation journey while delivering long-term value for investors. Together, we will foster innovation, attract further private capital, and drive long-term sustainable growth,” Chordia said.

By offering growth equity, the fund will help unlock projects in development, accelerate new capacity addition, and support enterprises pioneering sustainable energy and decarbonisation solutions. The project also aims to promote technology and investment flows between India and the European Union.

As of June 30, 2025, EAAA Alternatives, one of the leading alternative asset managers in the country, had about $7.3 billion in assets under management (AUM). By the end of 2027, EIB Global aims to support €100 billion of investment (around one-third of the overall budget of the initiative) in India and Asia.