In order to build 1,000 green energy businesses across the nation, the Small Industries Development Bank of India (SIDBI) and TP Renewable Microgrid Ltd (TPRMG), a fully owned subsidiary of Tata Power, have teamed up to launch green energy businesses programme. The project will promote sustainable business models across the country, resulting in the empowerment of rural entrepreneurs.
SIDBI and TPRMG: Key Points
- As per the agreement, after entrepreneurs finish a capacity-building programme run by TPRMG, SIDBI will provide them a “Go REsponsive, ENterprise incentive (GREENi)”.
- SIDBI would also support credit connections through its PRAYAAS scheme or partner banks to facilitate financing (loans) for starting or growing rural entrepreneurs’ firms.
- TPRMG will identify qualified entrepreneurs inside its current Microgrid network as well as in new regions to supply these rural enterprises with high-quality, reasonably priced, dependable, and green energy (solar, wind, and biogas).
- TPRMG will also offer green energy options and the technical know-how for maximising energy usage and conservation to rural firms. The motivating elements behind this relationship are the Empowering MSMEs campaign of SIDBI and the “Sustainable is Attainable” programme of Tata Power.
Through TPRMG, Tata Power manages one of the largest Microgrid programmes in the world and runs an off-grid solar generating facility with an energy storage system that provides power to rural areas of the nation. In the near future, the business intends to deploy 10,000 Microgrids. More than 200 Microgrids have been installed, majority of which are found in Uttar Pradesh and Bihar. Additionally, a pilot Microgrid programme is being tested in Odisha.
SIDBI and TPRMG: Important Takeaways
- CEO and MD, Tata Power: Praveer Sinha
- CMD SIDBI: Sivasubramanian Ramanan