Sustainability for MSMEs: Small Industries Development Bank of India (SIDBI) has collaborated with TP Renewable Microgrid (TPRMG), a subsidiary of Tata Power, to launch 1,000 green energy enterprises across the country.
The initiative is aimed at promoting sustainable entrepreneurship models and empowering rural entrepreneurs, said SIDBI in its press statement.
‘Sustainable is Attainable’ program of Tata Power and ‘Empowering MSMEs’ campaign of SIDBI are the driving forces behind this partnership, they mentioned.
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The entrepreneurs shortlisted under the initiative will have to complete a capacity-building activity organised by TPRMG to receive an impetus called Go REsponsive, ENterprise incentive (GREENi) from SIDBI.
The latter will also assist rural entrepreneurs in credit linkages to facilitate loans and financing to set up or expand their businesses through its PRAYAAS scheme or partner institutions.
TPRMG will be responsible to shortlist entrepreneurs both from their existing Microgrid network and from new areas to provide them with affordable green energy solutions and technical knowledge.
“This innovative programme 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 Praveer Sinha, CEO and MD, Tata Power.
“Collaboration with Tata Power’s TPRMG is being structured to kindle green rural enterprises….We are hopeful that this shall trigger the youth from Bharat (India) who are inclined towards the role of job creators, to go green from the very beginning,” said Sivasubramanian Ramann, chairman and managing director, SIDBI.
Tata Power’s TPRMG operates solar-based off-grid generating plant with an energy storage system supplying power to remote areas of the country. According to the company’s statement, it is planning to roll out 10,000 Microgrids in the near future.
It has already 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.