Tata Cleantech Capital, a joint venture between Tata Capital and International Finance Corporation (Washington) and World Bank Group, is planning to start a debt and alternative investment fund (AIF) to finance renewable energy projects in the country. Tata Cleantech is in talks with investors to start a infrastructure fund with an initial equity capital of Rs 300 crore and an AIF with an initial capital of Rs 700 crore ($100 million).
Tata Cleantech Capital’s managing director Manish Chourasia told FE, “We will leverage the debt fund by 6-7 times to Rs 2,100-Rs 2,500-crore size over the next three years. The fund will be used for financing green energy projects in solar (ground-mounted & rooftop projects) and wind energy projects. We expect the shareholder agreement to be signed in the next 5-6 months.” Read More
Latest posts by Financial Express (see all)
- Indian Railways sees a significant decline in train accidents! Here’s why it’s important - December 5, 2019
- Noida Metro Aqua Line extension to have 9 new stations connecting Gaur City, Noida Extension; details here - December 5, 2019
- Sembcorp buys remaining stake in Sembcorp Energy India for Rs 406 crore - December 5, 2019