CDC Group has invested $70 million in the Green Growth Equity Fund (GGEF), the climate fund of India. Eversource Capital manages the fund, a joint venture (JV) between Everstone Group and Lightsource British Petroleum's renewable energy platform. GGEF has strong climate credentials and has several investments in the company's portfolio. The portfolio consists of Radiance, a renewable energy solution for commercial and industrial purposes; Greencell Mobility, an e-mobility platform; Ayana, an utility-scale renewable energy platform; Everenviro, an integrated waste management platform and Kathari, a wastewater management platform. GGEF will use the investment to finance the development of green infrastructure in India. It uses a platform model for its funds, which means that the company is set up from scratch and then grows the platform by acquiring other companies. As per GGEF, the platform can help acquire operational efficiencies and scale their business by consolidating with similar businesses. It will improve profitability and grow the company to attract buyers. The environmental, social and governance (ESG) standards will also bring common standards across the platform. This year in September, CDC Group unveiled its aim to invest up to $1 billion in India's climate change funding in the next five years. It will enhance the country's efforts towards climate change and align with the Paris Agreement. In the last four years, CDC Group has invested over $1 billion in climate finance in South Asia and Africa. CDC Group has a $2 billion portfolio in the country. Previously, CDC had announced a $30 million unit to Tata Cleantech Capital Limited (TCCL) through the green lending facility. It focuses on mobility solutions and water energy efficiency to help mitigate climate change. CDC Group has also invested in Ayana Renewable Power, committed to investing $100 million. In December last year, CDC announced equity funding of $70 million in Ayana. Image Source Also read: Sterlite gets Rs 324 cr inter-state power transmission project