Corporate News
Tata Power Renewable Energy partners with Canara Bank As on : 20-Dec-24  15:02

Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power Company, has joined hands with Canara Bank, one of the country's premier public sector banks, to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme.

This collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future. As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable.

For systems with a capacity of up to 3 kW, the scheme offers loans of up to ₹ 2 lakh with a 10% margin money requirement, collateral-free financing, a competitive interest rate of 7% per annum, and a tenure of up to 10 years. For systems between 3 kW and 10 kW, the scheme provides loans of up to ₹ 6 lakh with a 20% margin money requirement, collateral-free financing, and interest rates at 10% per annum, with a maximum tenure of 10 years. These options ensure financial flexibility and support households in their transition to clean energy solutions.

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