Tata Power Partners with Canara Bank for Solar Revolution

Tata Power Renewable Energy Ltd collaborates with Canara Bank to promote rooftop solar systems under the PM Surya Ghar Scheme. The partnership offers affordable financing options for households to support India's transition to sustainable energy, enhancing energy access and reducing costs.

Tata Power Renewable Energy Ltd (TPREL) has teamed up with Canara Bank to drive the adoption of rooftop solar systems, announced under the PM Surya Ghar Scheme. This collaboration aims to provide households with access to simplified and attractive solar energy solutions.

The initiative offers tailored financing to make solar installations more affordable and accessible, with loans up to Rs 2 lakh for systems up to 3 kW and up to Rs 6 lakh for systems between 3 kW and 10 kW. These loans come with favorable interest rates and tenures of up to 10 years.

According to Deepesh Nanda, CEO & Managing Director of TPREL, this partnership is pivotal in advancing solar adoption nationwide. R Anuradha of Canara Bank highlighted the financial tools provided to households, enabling them to lower energy costs and support India's sustainability goals.

(With inputs from agencies.)