Chennai, October 10: The U.S. Development Finance Corporation (DFC) announced its full slate of investments in the linked release. Please find the India-specific information below:
Bolstering clean energy manufacturing and diversifying critical supply chains in India: A $425 million loan to TP Solar Limited, a wholly-owned subsidiary of Tata Power Renewable Energy Limited, will finance the construction and operation of a greenfield 4 gigawatt (GW) solar cell and 4 GW solar module manufacturing facility in India. This investment will support India’s ambitious program to increase renewable energy generation while advancing the global energy transition to diversify supply away from PRC dominance.
Advancing clean energy in India: A $35 million equity investment in SAEL Industries Ltd. will finance the expansion of solar and waste-to-energy power generation and operations, diversifying India’s energy portfolio.
Increasing access to financing for tech startups in India: A $15 million equity investment in Ankur Capital Fund III will provide capital to support innovative, early-stage tech companies in India.
Increasing global access to affordable healthcare: A $50 million loan to GeneSys Biologics Private Ltd. will help expand its insulin manufacturing facilities in India, which is expected to provide greater availability and affordability of critical diabetes treatments worldwide.
Improving food security in India: A $33 million loan to Leap India Food & Logistics will help build grain silos that will modernize food storage in India and improve local food security.
Bolstering climate finance in India: A $10 million loan to Clime Finance Private Limited will support on-lending to MSMEs engaged in climate adaptation and mitigation activities in India.
Expanding financial inclusion in rural India: A $12 million loan to Pahal Financial Services Private Ltd. will support the expansion of the company’s microfinance portfolio, targeting rural and semi-urban women in India.
Increasing affordable housing in India: An up to $20 million loan to Ummeed Housing Finance Private Limited will expand available home financing to low- and middle-income communities, helping meet the growing demand for affordable housing and homeownership among women in India.
Aiding the transition to EVs in India: A $10 million loan to Upgrid Electrilease Private Limited (BatterySmart), a company that manages a battery swapping network for two-wheelers and three-wheeled electric rickshaws, will support the transition to electric vehicles in India.
Expanding India’s recycling capacity: An up to $30 million loan for Dalmia Polypro Industries Private Ltd. will support the construction of a new post-consumer recycling facility, expanding India’s capacity to reduce plastic waste.
Promoting innovative food security solutions in India: An $8.9 million loan to Science for Society Techno Services Private Ltd. will enable the expansion of clean energy, farm-gate food processing, and reduce food waste and carbon emissions while increasing income for rural women.