Line of Credit for Solar rooftop segment for Commercial, Industrial and Residential Housing sectors (GCF-FP081)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 16, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
National Bank for Agriculture and Rural Development (NABARD)
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Sep 16, 2018


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Project Description

According to the website of the Green Climate Fund, the project will support the Government of India’s initiative in fulfilling renewable energy targets by enabling access to solar rooftop developers to the required means of finance. The fund will be used to provide loan assistance to commercial, industrial and residential housing sectors to partially cover the upfront cost of investing in solar roof top Photovoltaic systems.

The programme aims to tap around 250 MW of solar rooftop capacity in the initial phase over 2018-2022. Tata Cleantech Capital Limited (TCCL), the implmenting agency, aims to cater to the specific market needs and will be a facilitator to bridge existing gaps/current barriers in the rooftop solar sector. 

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Investment Description
  • Green Climate Fund (GCF)
Private Actors

Tata Cleantech Capital Limited (TCCL) provides finances for clean technology project. The Company offers financing and consultancy for energy efficiency, renewable energy projects, and water treatment projects. TCCL serves customers in India.

Contact Information

ACCREDITED ENTITY

National Bank for Agriculture and Rural Development (NABARD)
Dr. Harsh Kumar Bhanwala
Tel: +91 22 26530000

chairman@nabard.org

Ms. T S Raji Gain
Tel: +91 22 26530009
Tel: +91 22 26530094

fsdd@nabard.org
tsr.gain@nabard.org

NDA/FP IN INDIA
Ministry of Environment, Forests and Climate Change
Mr Ravi S Prasad
Work: ravis.prasad@nic.in
Work: +91 11 2436 3956
Fax: +91 11 2436 9192

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.