FP164

Green Growth Equity Fund

FP164

Green Growth Equity Fund

Green Growth Equity Fund

  • Status Under implementation
  • Date approved 19 Mar 2021 at B.28
  • Est. completion 19 Mar 2030
  • ESS Category Intermediation 1

Over the past century, India’s average temperature has increased by around 0.7°C, largely due to climate change. By the end of the twenty-first century, temperatures are projected to rise by approximately 2.4°C to 4.7°C – setting a major challenge for India.

This programme is India’s first of its kind climate-focused fund. It will invest in low-carbon and climate-resilient platforms across the energy value chain. This includes renewable energy generation, energy efficient technologies, low carbon transport and resource conservation, including water and waste management. The programme provides equity and grants to accelerate the uptake of Indian green infrastructure projects.

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

Project timeline

Pipeline

04 Jun 2020 - 289 days

Concept note received

04 Jun 2020
Funding proposal received

24 Jul 2020
Cleared by GCF Secretariat

11 Dec 2020
Cleared by iTAP

23 Feb 2021
Approved

19 Mar 2021 - 246 days

Approved by GCF Board

19 Mar 2021
Legal opinion on AE's Internal Approval

13 Jul 2021
FAA executed

20 Oct 2021
Under implementation

19 Nov 2021 - 890 days so far

FAA effective

19 Nov 2021
Disbursement - USD 33,000,000

06 Dec 2021
Disbursement - USD 38,000,000

03 Mar 2022
Disbursement - USD 12,333,333

12 Jun 2023
Disbursement - USD 2,144,625

12 Jun 2023
Disbursement - USD 2,355,375

09 Apr 2024
To be completed

19 Mar 2030 - 2,154 days to go

One region

  • Asia-Pacific

One country

USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing64% disbursed

InstrumentAmount
EquityUSD 132,500,000
GrantUSD 4,500,000
Total GCF Financing
USD 137,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingEquityUSD 340,000,000
Co-FinancingEquityUSD 397,500,000
Co-FinancingEquityUSD 70,000,000
Total Co-Financing
USD 807,500,000

GCF Contacts

General media inquiries

GCF Communications
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
Send e-mail

Accredited Entity

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden
Mrs. Susie Shuford
Primary

Portfolio Manager, Public Investment Management
Phone +31 70 314 9166
S.Shuford@fmo.nl
Mr. Willem Lijnders
Secondary

Associate – Public Investment Management and Blending
Phone +31 6 21 43 80 11
w.lijnders@fmo.nl
More contacts

National Designated Authority

India
Ministry of Environment, Forests and Climate Change
Ms. Rajasree Ray Primary
Economic Advisor
Indira Paryavaran Bhavan, Jor Bagh Road, New Delhi-110003, New Delhi, India
Phone 011-2081-9197
rajasree.r@nic.in

Documents

Title Type Date
2022 Annual Performance Report for FP164: Green Growth Equity Fund Annual Performance Report 24 Mar 2023
Environmental and social safeguards (ESS) report for FP164: Green Growth Equity Fund - Ayana Brownfield Acquisition Environmental and Social Safeguards report / Sub-project ESS report 22 Dec 2022
Environmental and social safeguards (ESS) report for FP164: Green Growth Equity Fund - Project Transit Environmental and Social Safeguards report / Sub-project ESS report 10 Nov 2022
Green Growth Equity Fund Approved funding proposal 06 Apr 2021
Gender assessment for FP164: Green Growth Equity Fund Gender assessment 24 Mar 2021
Environmental and social safeguards (ESS) report for the programme - Equity investment in Green Growth Equity Fund with a focus to decarbonize the Indian Economy Environmental and Social Safeguards report 24 Feb 2021
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