Key Highlights
- Tata Capital receives USD 15.85 million revolving facility from GCF
- Additional USD 3 million grant supports climate tech start ups
- Funding under newly approved BEACON INDIA Programme
- Tata Capital will also invest USD 47.6 million from its own capital
- Programme targets reduction of 1.1 million tonnes CO2 emissions
- Expected to benefit around 2.9 million people in India
Tata Capital Limited has partnered with the Green Climate Fund under the BEACON INDIA Programme to support early stage climate focused start ups across the country. The initiative is being implemented along with SIDBI and TREC STEP to strengthen India’s green innovation ecosystem.
As part of the collaboration, Tata Capital will receive a revolving facility of USD 15.85 million from the Green Climate Fund and an additional USD 3 million grant to improve access to financing for green innovation ventures. The revolving model ensures that repayments made by start ups will be reinvested to fund new ventures, creating a continuous cycle of climate innovation support.
In addition to the GCF funding, Tata Capital will contribute USD 47.6 million of its own capital, reflecting the company’s strong commitment to sustainable development and low carbon growth.
The programme aims to help reduce more than 1.1 million tonnes of carbon dioxide emissions and benefit nearly 2.9 million people through climate adaptation and mitigation measures.
This collaboration marks Tata Capital’s second partnership with the Green Climate Fund, following its 2019 rooftop solar financing initiative. With this, Tata Capital becomes the first Indian entity to collaborate with the GCF on two distinct climate programmes, reaffirming its leadership in sustainable finance and support for India’s transition to a green economy.