Web Exclusive | April 2017
TCCL funds the largest private solar rooftop in Mumbai
Tata Cleantech Capital Limited (TCCL) - a joint venture between Tata Capital Limited and International Finance Corporation (IFC), has funded the solar rooftop project at the National Centre for Performing Arts (NCPA), established and installed by Avesta Solar Private Limited (ASPL), in Mumbai. TCCL, the sole lender, disbursed a total of Rs 2.36 crore to this project; the largest solar rooftop project in Mumbai.
Due to the close proximity to the sea, the team had to anticipate and work around challenges like heavy wind loads and corrosion damage to the solar panels while executing this project. The NCPA plays host to over 600 performances annually and will stand to benefit greatly from this – given that the project has a capacity of over 450 kW, with an effective reduction in greenhouse gases to the tune of 15,000 metric tonnes over its life span of 25 years. The installation, which has a life span of over 20-25 years, is capable of generating around 6.5 lakh units and is estimated to save NCPA’s exchequer around Rs 50 lakh per year.
Speaking on this project, Manish Chourasia, CEO, TCCL said, “GoI has ambitious plans to create 175 GW of renewable energy by 2022. TCCL is deeply invested towards helping achieve this goal and is pleased to have funded the city’s largest private solar rooftop project at the iconic NCPA, Mumbai. We are exploring innovative funding options for energy efficiency and rooftop solar sectors with support from IFC and other Multi-lateral and Bi-lateral funding agencies.”