Tata Power Solar Systems Limited (TPSSL), a leading solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced the renewal and expansion of its partnership with Union Bank of India (UBI) to offer financing solutions for residential customers. The initiative aligns with the Government’s PM Surya Ghar Muft Bijli Yojana and extends support to Commercial and Industrial (C&I) customers as well.
Enhanced Financing Options
The renewed scheme offers loan limits of up to ₹15 lakh for residential customers and ₹16 crore for C&I customers, with financing of up to 80% and 85% respectively. Both categories benefit from collateral-free financing, easing the transition to solar energy. Additionally, the loan tenure has been extended to 10 years, facilitating comfortable repayment for households and businesses.
Expanded Scope
This three-year agreement expands coverage to both residential and C&I segments, compared to the previous focus solely on the C&I segment. The earlier partnership resulted in financing of approximately ₹165 crore for the C&I segment.
Tata Power Solar Systems Limited: Leading the Renewable Energy Sector
TPSSL boasts a solar rooftop portfolio exceeding 2 GW, demonstrating significant progress across various states and cities. Their comprehensive solutions cater to residential, commercial & industrial, MSMEs, large enterprises, group captive, and other customized offerings, reflecting a commitment to diverse energy needs.
With 34 years of experience and the backing of the Tata brand, TPSSL excels in operational and maintenance services across 275+ cities. Their indigenous cells and modules showcase technological prowess, while a strong commitment to customer satisfaction and an extensive network of channel partners solidify their position as a trusted leader in the renewable energy sector.