TP Renewable Microgrid and SIDBI collaborate to setup 1000 green energy enterprises nationwide to support rural entrepreneurs
~ Program will promote sustainable rural entrepreneurship in the country through clean power via Microgrids and speedy facilitation of financial linkages ~
Mumbai, 24 August 2022: To commemorate the Azadi Ka Amrit Mahotsav, TP Renewable Microgrid (TPRMG), a wholly owned subsidiary of Tata Power and Small Industries Development Bank of India (SIDBI), have joined hands to launch an innovative program that will see 1,000 green energy enterprises established throughout the nation. The Government of India’s vision of Atmanirbhar Bharat will be supported by this initiative as it will foster sustainable entrepreneurship models across the nation leading to empowerment of rural entrepreneurs.
Under the collaboration, SIDBI will provide entrepreneurs a “Go REsponsive, ENterprise incentive (GREENi)” after they complete a TPRMG-organized capacity building activity. Through its PRAYAAS scheme or partner institutions, SIDBI will also assist in credit linkages to facilitate financing (loans) for setting up or expanding the businesses of rural entrepreneurs. To provide these rural businesses with quality, affordable, dependable, and clean green energy (Solar/Wind/Bio-Gas), TPRMG will discover suitable entrepreneurs within its existing Microgrid network as well as in new geographies. TPRMG will also provide rural enterprises, green energy solutions, the technical know-how for maximising energy utilisation and conservation. The Sustainable is Attainable program of Tata Power and the Empowering MSMEs campaign of SIDBI are the driving forces behind this partnership.
“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. 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” said Dr Praveer Sinha, CEO&MD Tata Power.
“SIDBI has woven its promotional initiatives as a national program which has four buckets of innovation, education4entrepreneruship, Swavalamban connect Kendras and village/ rural/ sustainable enterprise development. Collaboration with Tata Power’s TPRMG is being structured to kindle green rural enterprises. SIDBI has prioritised the green enterprise as its thrust agenda aligned to national commitments on being carbon neutral nation. We are hopeful that this shall trigger the youth from Bharat who are inclined towards job creator role, to go green from the very beginning.” said Mr. Sivasubramanian Ramann, CMD SIDBI.
Tata Power, through TPRMG, runs one of the largest Microgrid programs in the world and operates solar-based off-grid generating plant with an energy storage system supplying power to remote areas of the country. The company plans to roll out 10,000 Microgrids in the near future. It has installed more than 200 Microgrids, many of which are present in Uttar Pradesh and Bihar. A pilot Microgrid program is also being tried out in Odisha.
Microgrids are electricity distribution systems containing loads and distributed energy resources such as distributed generators, storage devices, or controlled loads that can be operated in a controlled, coordinated way either while connected to the main power network or while islanded. The price of power from a Microgrid is around one-fifth of the price of diesel, making it an economical option for many people in rural India. Apart from households, TP Renewable Microgrid consumers in a village include shops, health centres / Hospitals,
Schools/ Colleges, Banks, other commercial institutions and telecom towers, flour mills, oil expellers, rice hullers, bulk milk chillers, RO Cold water plants, etc.
About Tata Power:
Tata Power (NSE: TATAPOWER; BSE:500400) is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 13,974 MW. The company has a presence across the entire power value chain – generation via renewables as well as conventional power including hydro and thermal energy; transmission & distribution, coal & freight, logistics, and trading. The company had developed the country’s first Ultra Mega Power Project at Mundra in Gujarat based on super-critical technology. With 5.1 GW of clean energy generation the company has 37% of clean portfolio. It has successful public-private partnerships in generation, transmission & distribution in India. Tata Power is currently serving more than 12 million consumers via its Discoms, under a public-private partnership model viz Tata Power Delhi Distribution Ltd. with the Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with the Government of Odisha. With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and Microgrids, storage solutions, solar pumps, EV charging infrastructure, ESCO, home automation & smart meters et al. With its 107 legacy of technology advancements, project execution excellence, world-class safety processes, customer care, and green initiatives, Tata Power is well poised for high growth trajectory and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com.
Small Industries Development Bank of India (SIDBI) set up on 2nd April 1990 under an Act of Indian Parliament, as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities. In the context of the changing MSME lending landscape, the role of SIDBI has been realigned through adoption of SIDBI Vision 2.0 which envisages an integrated credit and development support role of the Bank by being a thought leader, adopting a credit-plus approach, creating a multiplier effect and serving as an aggregator in MSME space.