Dhanpal Jhaveri, CEO, EverSource Capital
To celebrate the first year of our partnership with BP, we’ve asked team leaders across the globe to reflect back on the past twelve months.
Earlier this year EverSource Capital, a joint venture between Everstone Group and Lightsource BP, was selected by India’s National Investment and Infrastructure Fund (NIIF) and UK government, as the fund manager of Green Growth Equity Fund (GGEF), a fund set up to invest in India’s rapidly scaling green growth market through a unique partnership and differentiated investment approach. GGEF is a USD 700 million target private fund, with a cornerstone investment of USD 340 million (from India’s NIIF and the United Kingdom Government) and the fund manager.
What sets EverSource apart is the amalgamation of premier India and South-east Asia’s focused investment manager, Everstone Group and a global leader in renewables, Lightsource BP. Everstone and Lightsource BP collectively bring strong relationships and partnerships, deep private equity on-the-ground experience in India, technical expertise in renewables and e-Mobility, and relationships to enhance deal flow, operating value-add and overall investment performance.
EverSource will build platforms or make investments in green infrastructure businesses across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chain. The Fund has a strong focus on sustainable development goals with a dual strategy of making impact while generating commercial returns.
The strategy to opt for a control private equity approach using capital, technology, robust ESG standards and superior talent are some of the differentiators for EverSource. The dedicated EverSource leadership team has a strong track record of more than 100 deals and a combined leadership experience of over 50 years in private equity.
GGEF will target the Global green megatrends and support India’s green sustainable objectives of tripling its renewable energy capacity by investing in opportunities across the entire value chain.