Aafrin Kidwai 
EverSource Capital looks all set to take over IL&FS Environmental Infrastructure & Services Limited (IEISL) and its subsidiaries. EverSource Capital manages 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.
The Indian Express cites sources that suggest that EverSource Capital is the highest bidder for IEISL and its subsidiaries — RDF Power Projects Limited (RDF), East Delhi Waste Processing Company Limited (EDWPCL), Swayam Swachatta Initiative Limited (SSIL) and Dakshin Dilli Swachh Initiatives Limited (DDSIL).
IEISL is engaged in integrated waste management, focused on scientific and sustainable solid waste management in India. It operates a waste management platform by integrating economic and environmental models with a total waste handling capacity of around 14,500 tonnes per day. IL&FS is the promoter shareholder of IEISL and owns 97.54 per cent of equity shares of IEISL. The balance 2.46 per cent is owned by IL&FS Employee Welfare Trust.
Both DDSIL, a wholly-owned subsidiary of IEISL, and SSIL, in which IEISL owns 51 per cent stake, are engaged in collection, transportation and disposal of all types of waste. IEISL further owns 48.95 per cent stake in EDWPCL, which operates a 12 megawatt municipal solid waste to energy plant in Delhi, to generate electricity. It also owns 77 per cent stake in RDF, which generates power from liquid, gaseous, solid fuel or municipal solid waste and is currently in the implementation phase.
