ICRA’s first rating in the EV bus project segment in India

In an industry-first, ICRA has assigned [ICRA]A- (Stable) to Greencell Marudhara Private Limited, GMPL, the electric vehicle bus – fleet operator for the Rajasthan State Road Transport Corporation (RSRTC).

Greencell Marudhara assigned A-stable rating by ICRA; first rating in EV space

In an industry-first, ICRA has assigned [ICRA] A- (Stable) to Greencell Marudhara Private Limited.

Incorporated to target the opportunities in the e-mobility space and become a pan-Indian shared electric mobility player, Greencell Marudhara Pvt Ltd (GMPL) is a 98.99 per cent subsidiary of GreenCell Mobility.

GreenCell Mobility is the wholly-owned subsidiary of Sebi-registered Category-II alternate investment fund, GGEF. Green Growth Equity Fund (GGEF) is an India-focused fund with sovereign funds as anchor investors.

The rating assigned for Greencell Marudhara factors in its status as the successful concessionaire for procurement, operations and maintenance of 48 electric buses on intercity routes for the state road transport authority.

GreenCell Bags First Electric Bus Contract From RSRTC – Saur Energy International

The first electric bus contract from Rajasthan State Road Transport Corporation (RSRTC) has been bagged by GreenCell Mobility Private Limited

GreenCell Mobility awarded the first electric bus contract tendered by RSRTC

GreenCell Mobility awarded the first electric bus contract tendered by RSRTC – Asia Pacific | Energetica India Magazine

BP to invest USD 70 million in India’s Green Growth Equity Fund

UK’s energy major BP will invest $70 million in the Green Growth Equity Fund (GGEF) with an aim to rapidly scale-up commercially viable low carbon solutions, the company said in a statement.

BP to invest US$ 70 million in Green Growth Equity Fund (GGEF)

Mumbai, Tuesday, July 07, 2020: EverSource Capital, the fund manager of Green Growth Equity fund (GGEF/Fund) has today announced an investment of US $70 million by bp, one of the leading energy majors in the world, in GGEF. bp will be a Limited Partner in GGEF and also have representation on its advisory board.

NIIF announces GBP 120 million commitment to the green growth Equity Fund

The National Investment and Infrastructure Fund of India is pleased to announce that it has partnered with the UK Government to launch the Green Growth Equity Fund (“GGEF”). NIIF and the UK Government have committed GBP 120 million each into the Fund. EverSource Capital, an equal joint venture between Everstone Group and Lightsource BP was selected as the fund manager for GGEF following an international selection process. Everstone Group is a premier multi-asset investment firm and Lightsource BP is a global market leader in renewable energy development and management.

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