In a significant move to support the green energy transition among Micro and Small Enterprises (MSEs), Tata Power Renewable Energy Ltd (TPREL) announced a partnership with IndusInd Bank to offer accessible and affordable financing for solar installations. The collaboration enables MSEs to obtain collateral-free loans ranging from ₹10 lakh to ₹2 crore, subject to IndusInd Bank’s credit approval, with a 20% margin requirement. The financing terms extend up to seven years with competitive interest rates.
Supporting MSEs in Green Transition
The initiative aims to help MSEs reduce their operational costs and contribute to environmental sustainability. “Through our partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs to adopt solar energy,” said Deepesh Nanda, CEO & MD of Tata Power Renewable Energy. IndusInd Bank’s Head of Corporate, Commercial, and Rural Banking, Sanjeev Anand, emphasized the bank’s commitment to supporting businesses in their shift to solar energy with flexible terms and competitive rates, tailored for rooftop solar installations.
Impact and Expansion of Tata Power Renewable Energy
TPREL has been a leader in solar adoption across India, securing over ₹4,200 crore in financing for solar projects through collaborations with more than 20 financial institutions, including public sector banks and NBFCs. The company’s installed solar rooftop capacity exceeds 2.5 gigawatts, serving more than 100,000 customers nationwide. TPREL’s initiatives are projected to offset over 51.67 million tons of CO₂ emissions, equivalent to planting 1.8 million trees over the next 25 years, underscoring its substantial impact on India’s sustainable energy landscape.