Tata Power Renewable Energy Limited (TPREL) has signed a Memorandum of Understanding (MoU) with Bank of Baroda to promote the adoption of solar energy among MSME and Commercial & Industrial (C&I) customers. Bank of Baroda will offer financing for solar projects up to 10 MW. Customers can benefit from attractive interest rates starting at 7.75% and collateral-free loans up to ₹10 crore.
Clean Energy Push
Tata Power Renewable Energy Limited (TPREL) and Bank of Baroda have joined forces to facilitate financing solutions for MSME and Commercial & Industrial (C&I) customers interested in adopting solar energy. The partnership aims to make renewable energy more accessible and affordable for businesses.
Financing Details
Under the agreement, Bank of Baroda will provide financial assistance for solar equipment and projects up to 10 MW capacity through TPREL and its authorized channel partners. Key benefits include:
- Attractive interest rates starting from 7.75%.
- Collateral-free loans up to ₹10 crore with CGTMSE coverage.
- Flexible repayment tenure up to 120 months.
- Pan-India financing coverage.
- Reduced margin requirements (starting from 20%).
- Concessional processing fees.
Tata Power’s Renewable Footprint
As of August 2025, TPREL has completed over 2.49 lakh rooftop solar installations, with a cumulative capacity exceeding 3.6 GWp. The company caters to diverse sectors, including Hospitality, Automotive, Aviation, and Education.
Supporting a Green Economy
The collaboration supports India’s transition towards a low-carbon economy and reinforces TPREL’s commitment to achieving 500 GW of renewable energy capacity by 2030.
Source: BSE
