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

Banking & Finance | Dated: 19 Nov 2024

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.

🎯 Key Highlights:

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

💡 Other Important Facts:

  • (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.

📚 Test Your Knowledge:

Recently, Tata Power Renewable Energy has partnered with which organization for collateral-free solar financing for MSMEs?

Correct Answer: IndusInd Bank

🚀 Quick Recap:

About IndusInd Bank

  • CEO : Sumant Kathpalia
  • Headquarter : Mumbai