Tata Power Renewable Energy, IndusInd Bank team up for solar loans — Who can apply?

Tata Power Renewable Energy Limited (TPREL), one of the leading renewable energy firms in India and a subsidiary of Tata Power, has entered into a strategic partnership with IndusInd Bank to offer accessible solar financing solutions to Micro and Small Enterprises (MSEs).

The partnership will offer collateral-free solar financing options, with loan amounts ranging from ₹10 lakh to ₹2 crore, subject to credit approval. Under the program, loans will require a 20% margin and will be available for up to seven-year terms at competitive interest rates.

“Tata Power Renewables has been a leader in the green energy transition and is committed to helping India achieve net-zero emissions by 2070. This commitment extends to empowering MSEs, which are the backbone of India’s economy, with accessible and affordable solar energy solutions,” said Deepesh Nanda, CEO and Managing Director of TPREL.

“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,” he added.

Sanjeev Anand, head of corporate, commercial, and rural banking at IndusInd Bank, stressed the bank’s commitment to environmental, social, and Ggovernance (ESG) principles through this initiative.

“By offering loans ranging from ₹ 10 lakh to ₹ 2 crore with flexible terms and competitive rates, we aim to facilitate investments in solar energy. This initiative aligns with our broader vision of environmental responsibility and supports India’s sustainability goals, including the net-zero target by 2070,” Anand said.

Tata Power Renewable Energy Limited has already facilitated more than ₹ 4,200 crore financing for solar rooftop installation through partnerships with over 20 financial institutions, the company said in a statement.

TPREL, with 2.5 GW of solar rooftops installed, is projected to offset 51.67 million tons of CO2 emissions, equivalent to planting 1.8 million trees over 25 years.