New Delhi, Oct. 14 -- The India Energy Transition Fund, managed by EAAA Alternatives, has achieved its first close at $163 million with a commitment of $60 million from the European Investment Bank's development arm, EIB Global.

The total corpus of the fund is targeted at $300 million, which will be invested in greenfield infrastructure projects and growth-stage companies.

The announcement was made on Tuesday in New Delhi by EIB vice president Nicola Beer and EAAA Alternatives chief executive Subahoo Chordia.

"EIB's development arm, EIB Global, is investing up to $60 million in the India Energy Transition Fund, a new greenfield infrastructure fund that will accelerate private capital investment in sustainable infrastructure and support...