Macquarie Asset Management raises $405 mn for fleet electrification firm Vertelo
Macquarie Asset Management, Green Climate Fund (GCF), Macquarie Green Energy Transition Solutions Fund, Allianz Global Investers and Australia Ethics for Vertelo, a fleet electrification solutions platform in India.
Macquarie Asset Management said that financing includes $ 205 million from corporate investors and the cross -investor Green Climate Fund (GCF) contains the remaining $ 200 million concession capital.
This model of partnership, which combines commercial and developmental funding, shows Macquarie’s ability to scale capital to address critical climate difficulties while offering value to investors. Macquarie Asset Management’s first blended finance partnership with GCF.
Macquarie Asset Management General Manager Abhishek Poddar said that this was the largest investment commitment in the electric vehicle (home) in Asia. “For more than a year, MAM GI and Vertelo teams have created a strong operating platform in India. This reflects our strategy to invest in growing jobs and developing sectors within the energy transition area.” He said.
GCF Head Investment Officer Henry Gonzalez said Virtelo will provide financing solutions for India’s critical infrastructure and electric vehicles for sustainable growth in the use of electric vehicles.
Creating home ecosystem
Launched by Mam Green Investment in April 2024, Vertelo aims to accelerate fleet crossings to electric vehicles and create a solid ecosystem. The platform offers customers integrated fleet electrification solutions such as rental and financing, charging infrastructure and energy management, fleet management services and end -end asset management.
The platform has established partnerships along the ecosystem, including leading original equipment manufacturers such as EKA Mobility, JBM, MG Motors, Switch Mobility, Tata Motors and Eicher Volvo.
Mint He had previously reported that Macquarie Asset Management had appointed EY to find investors for Vertelo.
Electric mobility has been a fundamental focus of the Indian government in line with the ambitious objective of net zero carbon emissions by 2070. The predicted annual growth rate (CAGR) is expected to reach $ 59 billion annually by 27%of India’s home market by 2035.
Since 2008, the Macquarie Group has invested in the infrastructure field of the country and continued its $ 2.5 billion equity capital energy transition, infrastructure and digital communication.
The investor has increased in the field of green mobility. La10,900 Crore allocation. Also under La57.613 CRORE PM-EBUS SEWA plans to add 10,000 electric buses through a public private partnership for government city bus operations.
