Tata Power Renewable Energy Limited (TPREL) announced today a partnership with IndusInd Bank to provide collateral-free solar financing for Micro and Small Enterprises (MSEs). The collaboration will offer loans ranging from ₹10 lakh to ₹2 crore with terms up to 7 years, requiring a 20 per cent margin.
The shares of Tata Power Company Limited were trading at ₹421.80 down by ₹3.90 or 0.92 per cent on the NSE today at 1.05 pm.
TPREL, a subsidiary of The Tata Power Company Limited, has already facilitated over ₹4,200 crore in solar rooftop installation financing through partnerships with more than 20 financing institutions. The company currently has an operational capacity of 5 GW, comprising 4 GW solar and 1 GW wind energy.
“Through our partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs to adopt solar energy, which will not only help them reduce operational costs but also actively contribute to the green energy transition,” said Deepesh Nanda, CEO & MD of TPREL.
The company has installed over 2.5 GW of solar rooftops and serves more than 100,000 customers. These initiatives are expected to offset approximately 51.67 million tons of CO2 over the next 25 years. TPREL maintains a presence in over 300 cities through its network of 500 channel partners.