FP186

India E-Mobility Financing Program

India E-Mobility Financing Program

Transportation is India’s third-highest greenhouse gas (GHG)-emitting sector, contributing about 13 per cent of India’s total CO2 emissions and is forecasted to increase due to the high population growth rate and increasing levels of industrialisation and urbanisation, signifying the need for radical change. In line with India’s climate ambitions, there is significant potential to decarbonise the transport sector through electrification.

This project will provide tailored financing solutions to electric vehicle (EV) owners and operators including in ancillary areas, such as charging infrastructure, that will rapidly bring the long-term cost of EV ownership to a level comparable to conventional vehicles. The project will also mobilise significant amounts of private sector institutional capital to support India’s e-mobility transition. This investment is GCF’s first purely private sector transport programme in the e-mobility sector.

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

Project timeline

Pipeline

13 Sep 2021 - 249 days

Funding proposal received

13 Sep 2021

Cleared by GCF Secretariat

18 Feb 2022

Cleared by iTAP

25 Apr 2022

Approved

19 May 2022 - 197 days so far

Approved by GCF Board

19 May 2022

Under implementation

Completed

One region

  • Asia-Pacific

One country

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

GCF financing

InstrumentAmount
EquityUSD 200,000,000
Total GCF Financing
USD 200,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingEquityUSD 205,000,000
Co-FinancingLoanUSD 1,092,000,000
Total Co-Financing
USD 1,297,000,000

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

Macquarie Alternative Assets Management Limited
Ms. Courtney Lollback
Primary

Senior Associate
50 Martin Place Sydney NSW 2000 GPO Box 4294 Sydney NSW 1164, Sydney, Australia
Phone +44 2 0303 45843
courtney.Lollback@macquarie.com
Ms Laura Bramwell
Secondary

Associate Director
50 Martin Place Sydney NSW 2000 GPO Box 4294 Sydney NSW 1164, Sydney, Australia
Phone +61282323835
laura.Bramwell@macquarie.com
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