Tata Capital made its foray into the area of climate change with the formation of Tata Cleantech Capital (TCCL) a joint venture with the International Finance Corporation. Avijit Bhattacharya, CEO, TCCL, talks to tata.com about the company's activities in the energy efficiency sector. What is the objective of the cleantech business?
TCCL is a joint venture between Tata Capital and the International Finance Corporation (IFC). Globally, IFC supports numerous cleantech projects by providing funding (debt and equity) and advisory services. Tata Capital has developed very strong relationships in the Indian market over the last four years by providing similar services to corporates across industries. The joint venture brings together IFC’s global expertise in cleantech with Tata Capital’s experience in the local market to serve firms in the area of renewable energy, energy efficiency and water management. TCCL has applied to the Reserve Bank of India for a non-banking financial company (NBFC) license. Post receipt of the NBFC license, we will commence lending activities.
How does Tata Capital fit into the value chain for a green venture?
TCCL would like to straddle the entire cleantech value chain. We are working not only at the project level with independent power producers, but also with equipment manufacturers, engineering, procurement, construction (EPC) contractors, operation and maintenance (O&M) service providers, technology providers, carbon traders and consultants.
What are the opportunities you see in the cleantech space?
What are your other initiatives in this area?
Tata Capital has an MoU with Tata Consulting Engineers and MITCON to provide advisory and consultancy services to our clients. We are in the process of building relationships across the entire value chain – independent power producers, equipment manufacturers, technology providers, EPC contractors, O&M service providers, power purchase utilities, financial institutions, carbon traders and government bodies.