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Nishith Desai Associates: Deal Corner

Nishith Desai Associates: Deal Corner

Posted by By at 25 January, at 15 : 41 PM Print


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January 25, 2022

EVERSOURCE FINAL CLOSE

DEAL BRIEF

EverSource Capital Private Limited (ECPL) has completed its final round of fund raising for its climate impact fund, Green Growth Equity Fund (GGEF), at USD 741 million. ECPL is a 50:50 joint venture between Everstone Group, a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital; and Lightsource bp, a global leader in development and management of solar energy projects.

GGEF has earlier received anchor investments of over USD 340 million from India’s flagship sovereign fund platform National Investment and Infrastructure Fund (NIIF) and the Department for International Development (DFID), Government of UK and investments of USD 70 million from bp, one of the leading energy majors in the world.

GGEF with its size of USD 741 million has become one of the largest single-country funds focused on climate change, mitigation and adaptation in the emerging markets.

OUR ROLE

We, at Nishith Desai Associates, helped the Everstone Group and Lightsource bp with the joint venture and acted as the fund counsel to GGEF advising on legal, structuring and regulatory aspects on fund formation, as well as represented the GP in each of the closing rounds, including for negotiations with the investors and deal documentation for each of the fund closings.

PRESS COVERAGE

https://www.eversourcecapital.com/eversource-closes-indias-largest-climate-impact-fund-us-741-million/

https://www.vccircle.com/eversource-closes-its-climate-impact-fund-at-741-million

https://www.livemint.com/news/india/eversource-closes-its-climate-impact-fund-at-741-million-11642485927165.html

https://economictimes.indiatimes.com/industry/renewables/eversource-closes-climate-impact-fund-at-741-million/articleshow/88979203.cms

https://thecapitalquest.com/2022/01/18/eversource-capital-raises-indias-largest-climate-impact-fund/


DISCLAIMER

We expressly clarify that this communication is not a solicitation or an invitation of any sort whatsoever from Nishith Desai Associates or any of its members to create an attorney-client relationship. This communication is not intended to be a source of advertising and the recipient should always seek the advice of competent counsel licensed to practice in the recipient’s country/state.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender’s contact information, which this mail does. In case this mail doesn’t concern you, please unsubscribe from mailing list.

 

 

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About Us

Nishith Desai Associates (NDA) is a research based international law firm with offices in Mumbai, Bangalore, Silicon Valley, Singapore, New Delhi, Munich and New York.

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