Green Growth Equity Fund

Green Growth Equity Fund

  • Status Under implementation
  • Date approved 19 Mar 2021 at B.28
  • Est. completion Under revision
  • 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




Result areas

Project timeline


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


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 - 229 days so far

FAA effective

19 Nov 2021

Disbursement - USD 33,000,000

06 Dec 2021

Disbursement - USD 38,000,000

03 Mar 2022


Est. completion date under revision

One region

  • Asia-Pacific

One country

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

GCF financing52% disbursed

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


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
Phone +82 32 4458 6338 (KST)
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 6155 (KST)
Send e-mail

Accredited Entity

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden
Mr. David Kuijper

Manager Public Investment Management
Phone +31 70 314 9715
Mrs. Susie Shuford

Portfolio Manager, Public Investment Management
Phone +31 70 314 9166
More contacts

National Designated Authority

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