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JICA signs ¥10-b loan agreement with TCCL

Our Bureau Mumbai | Updated on March 25, 2021

To support TCCL in offering loans to businesses that focus on renewable energy generation

Japan International Cooperation Agency (JICA) has signed a loan agreement with Tata Cleantech Capital Limited for a maximum amount of ₹10 billion.

The loan would help support TCCL in offering loans to businesses that focus on renewable energy generation, e-mobility solutions and energy efficiency, to help mitigate the effects of climate change by reducing the emission of greenhouse gas.

“This loan will be provided through the Private Sector Investment Finance scheme of JICA and is co-financing with the Sumitomo Mitsui Banking Corporation (SMBC),” said a statement on Thursday.

The Government of India has ratified the Paris Agreement in 2016, in which India has committed to cut GHG emissions intensity of its GDP by 33-35 per cent by 2030, it further said, adding that the government is promoting mitigation measures such as installation of renewable energy, energy efficient equipment, and electric vehicles.

Manish Chourasia, Managing Director, TCCL, said: “Our focus will continue to be to fund and support projects across renewable energy, e-mobility and energy efficiency sectors.”

Published on March 25, 2021

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