Consideration of funding proposals – Addendum XXIII Funding proposal package for FP081

The proposal seeks USD 100 million in senior loans from the GCF, matched by USD 100 million from Tata Cleantech Capital Limited (TCCL) and USD 50 million in project developer equity. The programme aims to install 250 MW of solar rooftop capacity between 2018 and 2023, targeting an indicative lifetime emission reduction of approximately 5.2 million tCO2eq. TCCL will act as the executing entity, providing loans to developers to overcome barriers such as the lack of long-term debt financing (12-15 years) and high perceived risks in the rooftop solar segment. The programme specifically targets the commercial and industrial (C&I) sector for 65-70% of funds, with the remainder for institutional, social, and residential sectors, including a focus on MSMEs and vulnerable communities.

• The programme aims to install 250 MW of solar rooftop capacity in India between April 1, 2018, and March 31, 2023, with an expected lifetime emission reduction of approximately 5,212,200 tCO2eq.
• The total programme financing is USD 250 million, consisting of USD 100 million from the GCF, USD 100 million in co-financing from Tata Cleantech Capital Limited (TCCL), and USD 50 million from project developer equity.
• A primary barrier to the expansion of rooftop solar in India is the lack of long-term debt financing, as commercial lenders typically offer tenors of only 5-7 years, whereas projects require 12-15 years to be viable.
• The funding will be distributed across three main segments: the Commercial and Industrial (C&I) sector is expected to receive 65-70% of funds (approx. USD 130 million), the institutional and social sector 25% (approx. USD 50 million), and the residential segment 5-10% (approx. USD 20 million).
• The programme intends to allocate at least USD 100 million of the total loan funds toward vulnerable communities, including MSMEs and households with poor grid availability, particularly in states with low gender ratios such as Delhi, Gujarat, Maharashtra, Rajasthan, and Punjab.
• The estimated cost of emission reduction for the programme is USD 47.96 per tCO2eq, with the GCF's specific cost contribution estimated at USD 19.19 per tCO2eq.
• The programme is expected to create between 5,000 and 7,500 jobs across manufacturing, construction, installation, and operation and maintenance (O&M).
• The project is classified as Environmental and Social Safeguards (ESS) Category Intermediation 3 (I3), meaning risks are considered low-level and primarily benign, occurring during construction and installation.

APA

Green Climate Fund (2018). Consideration of funding proposals – Addendum XXIII Funding proposal package for FP081. https://www.greenclimate.fund/sites/default/files/document/gcf-b19-22-add23.pdf

Chicago

Green Climate Fund. Consideration of funding proposals – Addendum XXIII Funding proposal package for FP081. 2018. https://www.greenclimate.fund/sites/default/files/document/gcf-b19-22-add23.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Consideration of funding proposals – Addendum XXIII Funding proposal package for FP081 |date=6 February 2018 |url=https://www.greenclimate.fund/sites/default/files/document/gcf-b19-22-add23.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2018consideration, author = {{Green Climate Fund}}, title = {{Consideration of funding proposals – Addendum XXIII Funding proposal package for FP081}}, institution = {Green Climate Fund}, year = {2018}, month = feb, url = {https://www.greenclimate.fund/sites/default/files/document/gcf-b19-22-add23.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }