In December 2024, Tata Power Renewable Energy Limited (TPREL), based in Mumbai, Maharashtra, partnered with Canara Bank Limited, a public sector bank (PSB) headquartered in Bengaluru, Karnataka, to promote rooftop solar systems under the Pradhan Mantri (PM) - Surya Ghar Muft Bijli Yojana.

- This partnership aims to make solar energy more accessible and affordable for households by offering special loan options with attractive terms and benefits.

Main Point :-

(i) For a solar power system up to 3 kW capacity, loans of up to Rs 2,00,000 will be available, with a 10% margin, 7% annual interest, no collateral, and a 10-year repayment period.

(ii) For a solar power system between 3 kW and 10 kW, loans of up to Rs 6,00,000 will be available, with a 20% margin, 10% annual interest, no collateral, and a 10-year repayment period.