ImpactAlpha, November 5 – Tata Power and the Rockefeller Foundation are forming a new venture to called TP Renewable Microgrid to accelerate distributed energy access in rural India. The venture will develop a network of 10,000 solar mini-grids over the next seven years, which is expected to bring clean energy to five million households, 400,000 farmers and 100,000 rural enterprises—most of which otherwise rely on dirty fuel sources, like diesel.
To roll out that many systems, TP Renewable Microgrid will leverage a model developed by Berkeley-based Institute for Transformative Technologies and Smart Power India called “Utility-in-a-Box”—a relatively low-cost, easy to install modular mini-grid system that has been tested in the Indian states of Bihar and Uttar Pradesh.
TP Renewable Minigrid will own and operate the new facilities once they’re developed. Rockefeller-backed Smart Power India will provide technical expertise.
The mini-grid partnership is part of Rockefeller’s goal to fast-track solutions to end global poverty over the next decade. ImpactAlpha previously reported that Rockefeller is looking to catalyze $1 billion in commercial capital to finance the grids’ development.
Rockefeller’s $60 million impact fund manager leverages ‘catalytic capital’ for scale