Tata Power Partners with IndusInd Bank to Boost Solar Financing for Micro and Small Enterprises

Tata Power Renewable Energy Limited (TPREL) has announced a strategic partnership with IndusInd Bank Limited to enhance accessible and affordable solar financing for Micro and Small Enterprises (MSEs). This collaboration aims to promote widespread solar energy adoption among MSEs. IndusInd Bank has been at the forefront of sustainability financing, particularly in solar energy, with initiatives like the Indus Solar rooftop loans. Together with Tata Power Group, this partnership will focus on delivering tailored financial solutions for rooftop solar installations, helping businesses reduce costs, improve efficiency, and commit to a sustainable future.

The alliance will offer MSEs collateral-free solar financing, with loans ranging from ₹10 lakh to ₹2 crore. Subject to the bank’s credit approval, these loans require a 20% margin and come with competitive interest rates, with repayment terms of up to seven years.Deepesh Nanda, CEO & MD, Tata Power Renewable Energy Limited, said, “Tata Power Renewables has been leading the green energy transition, and is committed to accelerating path to India’s Net-Zero by 2070. This commitment extends to empowering MSEs, which are the backbone of India’s economy, with accessible and affordable solar energy solutions. 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.”

Sanjeev Anand, Head of Corporate, Commercial, and Rural Banking, IndusInd Bank, said, “We recognize that our impact extends well beyond financial services, and our partnership with Tata Power Renewable Energy Limited underscores our commitment towards integrating Environmental, Social, and Governance (ESG) factors into our business and operations. This collaboration reflects our endeavour to support MSEs through sustainable finance practices. 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.”