Tata Power Renewable Energy & Indusind Bank Partners for Collateral Free Solar Financing for MSES.

Banking & Finance

Mumbai (Maharashtra) based Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has announced a strategic partnership with Mumbai-based IndusInd Bank Limited to facilitate accessible and affordable solar financing for Micro and Small Enterprises (MSEs) and promote solar energy adoption amongst MSEs.


      - This partnership will provide collateral-free solar financing to MSEs by offering loans ranging from Rs 10 lakh to Rs 2 crore.

     

     

Main Points:-   (i) These loans, contingent on the bank's credit approval, require a 20% margin and come with competitive interest rates, offering terms of up to 7 years.

      (ii) This partnership is in line with TPREL's vision of environmental responsibility and supports India's sustainability goals, including the net-zero target by 2070.


About IndusInd Bank

CEO : Sumant Kathpalia
Headquarter : Mumbai
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