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Home Renewable Rooftop

TPSSL and UBI renews partnership to boost rooftop solar adoption among residential consumers

editor by editor
March 10, 2024
in Rooftop, Solar
Reading Time: 1 min read
0
Tata Power Solar Systems Limited
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Tata Power Solar Systems Limited (TPSSL), 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, in-line with the Government’s PM Surya Ghar Muft Bijli Yojana as well as for commercial and industrial (C&I) customers.

With loan limits extended up to Rs 1.5 million for residential and  Rs 0.16 billion for C&I customers, the renewed scheme plans to provide financing up to 80 per cent and 85 per cent for the respective categories. Notably, both the categories will have access to collateral-free financing options, making the transition to solar energy more accessible. The loan tenure has also been extended up to 10 years, allowing households and businesses ample time for repayment. This renewed three-year agreement includes both residential and C&I segments compared to the earlier one which focused only on C&I segment and resulted in the financing of Rs 1.65 billion for the segment.

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