ENA Sectors 2024-12-20 15:28:06 <p><span style="font-size:14px"><strong>Mumbai, Dec 20 (KNN)</strong> Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has joined forces with Canara Bank to offer affordable financing solutions for rooftop solar installations in India.</span></p> <p><span style="font-size:14px">This initiative, aimed at promoting the widespread adoption of solar energy, is in line with the governments PM Surya Ghar Scheme, designed to increase access to clean energy.</span></p> <p><span style="font-size:14px">Under the new offering, households can avail loans for rooftop solar systems with varying capacities. For systems up to 3 kW, loans of up to Rs 7.2 lakh are available with a 10 per cent margin money requirement, collateral-free financing, and an interest rate of 7 per cent per annum for a tenure of up to 10 years.</span></p> <p><span style="font-size:14px">For systems ranging between 3 kW and 10 kW, loans of up to Rs 7.6 lakh are provided with a 20 per cent margin, a 10 per cent interest rate, and a 10-year repayment period.</span></p> <p><span style="font-size:14px">Deepesh Nanda, CEO and Managing Director of TPREL, highlighted the significance of the partnership, stating, This initiative aligns perfectly with Tata Power Renewable Energy Limited's mission to drive the widespread adoption of solar energy in India.</span></p> <p><span style="font-size:14px">Our collaboration with Canara Bank is a crucial step in accelerating rooftop solar adoption across the nation, making clean energy solutions accessible to every household and contributing to India's renewable energy goals. </span></p> <p><span style="font-size:14px">R Anuradha, General Manager of Retail Assets at Canara Bank, echoed similar sentiments, stating, Through this partnership, we are providing households with the financial tools to embrace solar energy. This initiative reflects our commitment to environmental stewardship and a cleaner, greener future. </span></p> <p><span style="font-size:14px">TPREL, a leader in Indias rooftop solar sector, has already garnered over 100,000 satisfied customers across residential, commercial, and industrial segments.</span></p> <p><span style="font-size:14px">With over 34 years of experience, TPREL has established a vast portfolio of renewable energy solutions, including 10.9 GW of capacity, with 5.4 GW operational.</span></p> <p><span style="font-size:14px">This partnership marks a significant step toward overcoming financial barriers to renewable energy adoption, making rooftop solar systems more accessible and contributing to India's sustainability targets.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40329 https://knnindia.co.in/news/newsdetails/sectors/tata-power-renewable-energy-and-canara-bank-launch-affordable-rooftop-solar-financing-initiative 2024-12-20 15:28:06 knnindia.co.in