Cleantech refers any product or group of services that help in reducing energy consumption, waste, or environmental pollution. The term has become synonymous with groups targeting clean sources of energy and incorporating green practices in their ventures. With the growing sensitization of climate change and global warming, it is being given importance by even venture funds.
The focus at present is to reduce production costs while minimizing wastes and generating less of pollution. It could range from wind, solar, biofuels, agriculture to even transportation and materials. The venture should be viable in terms of economics and simultaneously cut emissions by employing alternate renewable sources of energy.
Glimpse of clean technologies;
According to reports, Tata Capital and International Finance Corp are in the offing and have setup Tata Cleantech Capital Limited to offer financing and advisory services for potential green ventures. Tata Capital currently holds 80.5 per cent in the joint venture — Tata Cleantech Capital Ltd — while the rest is held by International Finance Corp (IFC), a part of the World Bank group.
“Initially, we will be investing about USD 16 million. We expect to see an investment of USD 100 to 120 million in the next four to five years,” Tata Capital Managing Director and CEO Praveen P Kadle told reporters here today.