April 18, 2018 / 1:18 PM / 3 months ago

BRIEF-Everstone Group, Lightsource BP To Form JV In India

April 18 (Reuters) - Everstone Group:

* EVERSTONE GROUP, LIGHTSOURCE BP TO FORM 50:50 JV TO MANAGE FUNDS TARGETING CONTRACTED POWER, DISTRIBUTION INFRASTRUCTURE, ENERGY SERVICES IN INDIA

* EVERSTONE GROUP - LAUNCH FUND WILL BE CALLED THE GREEN GROWTH EQUITY FUND WHICH HAS A FUNDRAISING TARGET OF 500 MLN POUNDS Source text : [The Everstone Group, a premier India and Southeast Asia business group and multi asset investment firm, and Lightsource BP, a global market leader in renewable energy development, will form a 50:50 JV called ‘EverSource Capital’ to jointly manage funds targeting contracted power, distribution infrastructure and energy services in India. This fund is a part of the announcement made today by UK and Indian Governments at Commonwealth Heads of Government Summit in London. This fund announces £240 million cornerstone investment from funds provided by the UK Government and India’s National Investment and Infrastructure Fund (NIIF) of £120 million each, with a £500m target]

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