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The National Bank for Agriculture and Rural Development (Nabard), in its capacity as Direct Access Accredited Entity of Green Climate Fund (GCF), said it will support a proposal by Tata Cleantech Capital Ltd (TCCL) to generate more than 250 MW of solar energy. Nabard, in a statement, said the partnership is an attempt to unlock private sector initiatives for the creation of rooftop solar power capacity (for clients in the commercial, industrial and residential housing segments) across India with a loan of $100 million GCF for a period of 20 years. It will achieve an estimated reduction of emissions by 5.2 million tonnes of CO2 equivalent.
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