TP Renewable, SIDBI partner to set up 1,000 green energy enterprises in India
This is meant to promote sustainable rural entrepreneurship.
TP Renewable Microgrid Limited (TPRMG) and Small Industries Development Bank of India (SIDBI) have partnered to set up 1,000 green energy enterprises across India.
This is in line with the government’s initiative to encourager sustainable entrepreneurship models.
"Our partnership with SIDBI is a step toward providing rural enterprises with access to a sustainable energy ecosystem and include them in India's commitment to the widespread use of renewable energy,” Praveer Sinha, CEO & MD, Tata Power, said.
“This innovative program intends to develop skills to enable low-carbon futures for rural entrepreneurs and economies and to assist in Ease of Doing Business in rural parts of the country.”
Under the partnership, SIDBI is expected to provide an incentive to entrepreneurs that undergo TPRMG’s capacity building activity.
The bank will also be tasked to assist in credit linkages to facilitate loan financing for the expansion of businesses of rural entrepreneurs.
TPRMG will seek suitable entrepreneurs within its microgrid network and other geographies to provide them with affordable and reliable clean energy, such as solar, wind, and bio-gas.