Cleantech Solar Secures INR 6.25 Billion for Advancing Open Access Portfolio in India

Cleantech Solar Secures INR 6.25 Billion for Advancing Open Access Portfolio in India

Cleantech Solar, a prominent provider of renewable energy solutions to corporates in India and Southeast Asia

Cleantech Solar has achieved a significant milestone in its mission towards sustainable energy advancement. The company has secured a long-term senior secured loan facility worth INR 6.25 billion from Tata Capital Ltd, earmarked for bolstering its open-access portfolio in India. This collaboration signifies a pivotal moment in India’s renewable energy landscape, reflecting a concerted effort towards fostering a greener and more sustainable future.

The capital infusion from Tata Capital is poised to accelerate the deployment of Cleantech Solar’s open-access renewable energy projects across India. With a portion of the drawdown already completed, the remaining funds will be utilized in 2024 to meet the funding requirements of Cleantech’s ongoing pipeline of open-access projects. These initiatives are instrumental in adopting clean energy solutions and reducing carbon emissions.

Empowering Corporates with Sustainable Solutions

Cleantech Solar’s strategic focus on commercial and industrial (C&I) segments underscores its commitment to empowering corporates with sustainable energy alternatives. The renewable energy generated from these open-access projects will cater to various sectors, including automotive, FMCG, apparel, industrial equipment, and chemical manufacturing. Cleantech Solar is facilitating a seamless transition towards greener and more environmentally responsible business practices by enabling corporate consumers to procure renewable energy captive.

Commitment to Environmental Stewardship

Sachin Jain, CEO of Cleantech Solar, expressed his enthusiasm regarding the collaboration with Tata Capital, emphasizing its significance in expediting the deployment of open-access renewable energy projects in India. He reiterated the company’s dedication to strengthening partnerships with leading global corporates, accelerating the collective journey towards a carbon-free future.

Pankaj Sindwani, Chief Business Officer – Cleantech Finance at Tata Capital, highlighted the transformative potential of the loan facility in facilitating access to affordable green power across diverse sectors and geographies. He emphasized the importance of innovative capital solutions in bridging the financing gap and propelling the transition towards renewable energy. With a robust suite of sustainable lending solutions, Tata Capital remains steadfast in its commitment to supporting partnerships that contribute to scaling up the implementation of open-access projects and advancing the nation’s climate goals.

Cleantech Solar and Tata Capital collaboration heralds a new chapter in India’s renewable energy journey, marked by innovation, collaboration, and a shared commitment to environmental stewardship. As the world strives towards a greener future, such partnerships catalyze positive change and lay the foundation for a sustainable tomorrow.

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Image Courtesy | Cleantech Solar

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