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Consider the following statements with reference to Green Growth Equity Fund (GGEF):
1. National Investment and Infrastructure Fund launched it in partnership with the Department for International Development (DFID), Government of UK.
2. Global Environment Facility (GEF) is the fund manager of the GGEF.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statements with reference to Green Growth Equit...
  • The Green Growth Equity Fund (GGEF) is a joint UK-India Fund, specifically designed to promote sustainable energy projects. The fund, established in 2018, is focused on identifying, investing and supporting growth in zero carbon and low carbon energy solutions in the country.
  • Green Growth Equity Fund (GGEF) established with anchor investment from India’s National Investment and Infrastructure Fund (NIIF) and the Department for International Development (DFID), Government of UK. Hence statement 1 is correct.
  • The Fund is based in Mumbai (India) and shall invest in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains.
  • GGEF aims to raise GBP 500 million from international institutional investors to invest into areas such as renewable energy, clean transportation, water, sanitation, waste management, emerging technologies and similar industries in India which offer significant investment opportunities and potential for attractive returns.
  • EverSource Capital, an equal joint venture between Everstone Group and Lightsource BP was selected as the fund manager for GGEF. Hence statement 2 is not correct.
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Consider the following statements with reference to Green Growth Equity Fund (GGEF):1. National Investment and Infrastructure Fund launched it in partnership with the Department for International Development (DFID), Government of UK.2. Global Environment Facility (GEF) is the fund manager of the GGEF.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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