Tata Power will provide loan facility on solar panels in collaboration with IndusInd Bank, know complete details

In collaboration with IndusInd Bank, Tata Power Renewable will provide affordable loan facility

Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power, has partnered with IndusInd Bank to offer affordable solar financing solutions aimed at Medium and Small Enterprises (MSEs) in India. This initiative is designed to facilitate the transition to solar energy, enabling MSEs to lower their operating costs while reducing their carbon footprint.

Details of the partnership

Under this collaboration, TPREL will offer collateral-free loans ranging from ₹10 lakh to ₹2 crore, contingent upon credit approval from IndusInd Bank. The loans will require a 20% margin and feature competitive interest rates for terms of up to seven years.

Deepesh Nanda, CEO and MD of Tata Power Renewable Energy, emphasized that this partnership simplifies financing for MSEs, promoting their shift to renewable energy. Moreover, the collaboration highlights financing solutions for rooftop solar installations, which can optimize costs and enhance sustainability for businesses.

Tata Power Renewable’s impact and future prospects

TPREL has successfully mobilized over ₹4,200 crore for solar projects, collaborating with more than 20 financial institutions, thereby significantly boosting India’s solar potential. With over 2.5 GW of solar rooftop capacity installed, Tata Power is positioned as a leading provider of solar energy solutions in India, contributing to substantial CO2 offset equivalent to planting 1.8 million trees over 25 years.