Edelweiss Group's arm to raise USD 500 million climate fund for sustainable ventures
Edelweiss Group arm is preparing to raise up to USD 500 million (approximately Rs 4,143 crore) for its inaugural climate fund. Edelweiss Alternatives has outlined its intentions to allocate the fund towards various sectors, including renewable energy, transmission infrastructure, the development of electric vehicle infrastructure, green infrastructure, water treatment, transport decarbonization, and industrial decarbonization.
In a statement released on Monday, the company stated that investors will be presented with a sustainable, long-term investment opportunity in the world's largest sustainable energy transition market, promising more substantial and stable returns.
Subahoo Chordia, President of Edelweiss Alternatives, noted that an estimated USD 10 trillion in investment is necessary to achieve India's net-zero target by 2070.
«Our climate fund will look to invest in this growing and attractive investment opportunity, while also contributing to achieve the Sustainable Development Goals like climate action, clean energy, clean water, and sustainable cities,» Chordia added.
