Tata Cleantech Capital Limited (TCCL) recently joined the Green Bank Network. TCCL is a joint venture, operating since 2013, owned 79.5 percent by the Tata Group, a major conglomerate headquartered in India, and 19.5 percent by the International Finance Corporation (IFC), a global development finance institution and part of the World Bank Group. TCCL is a little different from traditional green banks in that it is a private sector for-profit green financing enterprise, rather than a public entity. It aims to create and mainstream new financing markets in green sectors in India.
We spoke with Manish Chourasia, Managing Director of TCCL, about TCCL’s mission, business model, challenges particular to operating in India, and present and anticipated future investment areas.