Tata Capital Limited, the flagship financial services company of the Tata Group, has partnered with the Green Climate Fund (GCF) under its newly approved Beacon India Programme to support early-stage climate-tech startups across the country.
The initiative, according to a media statement, is being implemented in collaboration with the Small Industries Development Bank of India (SIDBI); and TREC-STEP, an innovation and entrepreneurship development organisation.
Under the partnership, Tata Capital will receive a $15.85-million revolving facility from the Green Climate Fund, along with a $3-million grant aimed at lowering financing costs for climate-focused startups.
“Through this programme, we aim to help emerging entrepreneurs scale their green technologies and make a measurable difference to people and the planet,” said Rajiv Sabharwal, Managing Director & CEO, Tata Capital Limited.
This is Tata Capital’s second partnership with the GCF, following its 2019 collaboration on rooftop solar financing.
With this deal, the company becomes the first Indian entity to work with the GCF on two separate climate programmes, reinforcing its role in supporting sustainable growth and India’s transition to a low-carbon economy.
Tata Capital Limited operates a network of over 1,500 branches across India and provides a range of financial services, including consumer and housing finance, SME and commercial lending, cleantech financing, microfinance, debt syndication, private equity, and credit cards.
