Tata Power, SIDBI partner to establish green energy enterprises in India

Tata Power said that its fully-owned subsidiary — TP Renewable Microgrid Limited (TPRMG) has entered into a partnership with Small Industries Development Bank of India (SIDBI) for launching a program to establish 1,000 green energy enterprises across India.

According to Tata Power, the Indian government’s Atmanirbhar Bharat vision will be supported by the initiative as it will promote sustainable entrepreneurship models across the country, thereby empowering rural entrepreneurs.

Dr. Praveer Sinha — Tata Power CEO and MD said: “Our partnership with SIDBI is a step toward providing rural enterprises with access to a sustainable energy ecosystem and include them in India’s commitment to the widespread use of renewable energy.

“This innovative program intends to develop skills to enable low-carbon futures for rural entrepreneurs and economies and to assist in Ease of Doing Business in rural parts of the country.”

As part of the partnership, SIDBI will provide a “Go REsponsive, ENterprise incentive (GREENi)” to entrepreneurs after they complete a capacity building activity organized by TP Renewable Microgrid Limited.

Tata Power, SIDBI partner to establish 1,000 green energy enterprises across India. Photo courtesy of Ameyajkamat/Wikimedia Commons.

SIDBI, via its PRAYAAS scheme or partner institutions, will also help in credit linkages to facilitate financing (loans) for establishing or growing the businesses of rural entrepreneurs.

For providing affordable clean green energy (in the form of solar/wind/bio-gas) to rural businesses, the Tata Power subsidiary will identify suitable entrepreneurs within its existing microgrid network as well as in new regions.

Furthermore, TP Renewable Microgrid Limited will offer green energy solutions to rural enterprises alongside the technical expertise for maximizing utilization and conservation of energy.

Sivasubramanian Ramann — SIDBI CMD said: “SIDBI has woven its promotional initiatives as a national program which has four buckets of innovation, education4entrepreneruship, Swavalamban connect Kendras and village/ rural/ sustainable enterprise development.

“Collaboration with Tata Power’s TPRMG is being structured to kindle green rural enterprises. SIDBI has prioritised the green enterprise as its thrust agenda aligned to national commitments on being carbon neutral nation. We are hopeful that this shall trigger the youth from Bharat who are inclined towards job creator role, to go green from the very beginning.”