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Tata Capital to set PE Fund for Clean Energy

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Tata Capital is planning to launch a PE fund with International Finance Corporation to provide equity support for clean energy projects. This follows a floating a joint venture (JV) between the two organizations to lend Rs 5,000 crore for renewable energy projects.

Any project requires both equity and loan support. Our JV with IFC will provide loan support for renewable energy projects in solar and wind energy segments, while the PE fund will provide equity support. We will work with IFC for the PE fund too, Tata Capital MD and CEO Praveen P Kadle said.

Refusing to disclose the size of the fund since it was too early, Kadle said it will be of a reasonably good size and a large part of the finance for the PE fund will come from international markets.

Tata Capitals 80:20 joint venture with IFC, called TataCleantech Capital, aims to disburse loans worth about Rs 5,000 crore over the next five years to finance projects in solar energy, wind mills, water management and waste management sectors, among others.The JV will raise fund through borrowing from international markets, special lines of credit from multi-lateral agencies as well as domestic borrowing.
Investment & Trading | News published on 02 / 02 / 2012 by Bharat Vasandani

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