TCCL will provide financing and advisory services to small and medium enterprises (SMEs) and large corporates in India that are engaged in climate change initiatives.
Initially, TCCL will focus on key areas such as renewable energy generation projects, energy efficiency for SMEs and water management projects.
The JV company will also look at other areas such as sustainable agriculture projects, smart grid projects, clean transportation and pollution control over a period of time.
IFC will invest up to 19.5% stake in the equity capital of TCCL, while the rest will initially be contributed by Tata Capital.
