Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power and a leading player in the renewable energy sector, has announced a strategic partnership with IndusInd Bank Limited aimed at promoting the adoption of solar energy among Micro and Small Enterprises (MSEs). This collaboration will provide MSEs with access to collateral-free solar financing, offering loans between ₹10 lakh and ₹2 crore, contingent upon the bank’s credit approval.
The financing initiative requires a 20% margin and comes with competitive interest rates, providing repayment terms of up to seven years.
Deepesh Nanda, CEO and Managing Director of Tata Power Renewable Energy Limited, emphasized the company’s commitment to advancing India’s green energy transition. “Tata Power Renewables is dedicated to accelerating the path to India’s Net-Zero by 2070,” he stated. “Through our partnership with IndusInd Bank, we are facilitating easy financing opportunities for MSEs to adopt solar energy, which will help reduce their operational costs and contribute to the green energy transition.”
Sanjeev Anand, Head of Corporate, Commercial, and Rural Banking at IndusInd Bank, noted that the collaboration underscores the bank’s commitment to integrating Environmental, Social, and Governance (ESG) factors into its operations. “This partnership reflects our endeavor to support MSEs through sustainable finance practices,” he said. “By offering loans with flexible terms and competitive rates, we aim to facilitate investments in solar energy, aligning with India’s sustainability goals, including the net-zero target by 2070.”
IndusInd Bank has been actively involved in sustainability financing, particularly in solar energy projects, including the launch of Indus Solar rooftop loans. This partnership with Tata Power Group aims to provide customized financial solutions for rooftop solar installations, enabling businesses to optimize costs and enhance efficiency while showcasing their commitment to sustainability.
TPREL has already facilitated over ₹4,200 crore in financing for solar rooftop installations through partnerships with more than 20 financing partners, including public sector units, private banks, and non-banking financial companies (NBFCs). As a leader in India’s solar energy landscape, Tata Power Renewables has installed over 2.5 GW of solar rooftops and serves more than 100,000 satisfied customers. The company’s initiatives are expected to offset over 51.67 million tons of CO2, equivalent to planting 1.8 million trees over the next 25 years.
With 34 years of expertise in solar energy and the backing of the trusted Tata brand, Tata Power Renewables continues to deliver advanced solar technology, operational excellence, and industry-leading customer support. With a strong network of 500 channel partners and a presence in over 300 cities, the company is poised to play a pivotal role in India’s renewable energy transition.
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