By Bhakti Tambe
MUMBAI (Reuters) – India’s Edelweiss Alternatives has launched its first climate fund and is aiming to raise up to $500 million from overseas institutional investors, a senior executive told Reuters on Monday.
The climate fund, registered in Singapore, will invest in related projects of Indian companies, primarily in the form of equity, Subahoo Chordia, said Subahoo Chordia, president and head Real Assets Funds at Edelweiss Alternatives.
“We have started getting deal flows, and we are in the process of evaluating them,” he added.
Edelweiss Alternatives said the corpus will be invested in projects including renewable energy, transmission infrastructure, electric vehicle infrastructure, green infrastructure, and water treatment, among others.
While the fund is initially targeting $500 million of corpus, the amount can exceed based on investor interest, Chordia said.
(Reporting by Bhakti Tambe; Editing by Tasim Zahid)