Tata Cleantech Capital Limited (TCCL) was formed in 2011 as a joint venture between Tata Capital Limited (TCL) and International Finance Corporation (IFC). Tata Capital owns 80.5% share while 19.5% is owned by IFC. TCCL is a Systemically Important Non-Deposit Accepting Non-Banking Financial Company (SI-ND-NBFC) registered with the Reserve Bank of India and classified as an Infrastructure Finance Company (“NBFC-IFC”). TCCL offers finance and advisory services for projects in renewable energy, energy efficiency, waste management, water management and other infrastructure projects.
Tata Cleantech Capital Limited (TCCL) has been rated as AAA by CRISIL and CARE for its long-term borrowing program.
| Parameters(billion) | FY20 | FY21 |
|---|---|---|
| Total Asset | 62.2 | 65.08 |
| Net Worth | 9.87 | 11.62 |
| PAT | 1.22 | 1.62 |
| CAR(%) | 22 | 24.84 |
| GNPA(%) | 1.1 | |
| NNPA(%) | 0.9 | 0.61 |
| Gearing | 5.32 |
Strong parentage from Tata Group-
Tata Capital, which owns majority of stake in TCCL, is ultimately controlled by Tata Sons Ltd. It is expected that Tata Sons Ltd will continue to support Tata Capital in terms of equity and management experience, which will eventually benefit Tata Cleantech Capital Ltd. Going forward, Tata Capital group will book most of the new
infrastructure finance business in this company.
Adequate Capitalization-
The company's net worth rose to Rs 11.62 billion in FY21 from Rs 9.87 billion in FY20. In the same line, its capital adequacy rose to 24.84% in FY21 from 22 % in previous fiscal year.
Presence in green bond sector-
TCCL's portfolio primarily consists of large project finance investments in renewable energy sectors like wind and solar power generation. Therefore, the funds raised through green bonds can be appropriately utilised to confirm with the green bond principles.