Tata Power Solar Systems Limited (TPSSL), a leading integrated solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has facilitated over ₹ 3,500 crore of customer financing for solar projects during the last 4.5 years. This has led The Tata Power Company Limited (Tata Power) to emerge as the nation’s most preferred and trusted green energy partner which is mainstreaming the adoption of Solar Energy in the country. This momentum built over the years will help support the wide scaled adoption of solar energy in the country.
TPSSL has achieved this feat through collaborations with more than 20 active financing partners, including PSUs, Private Banks, and NBFCs. The extensive network consists of State Bank of India (SBI), Small Industries Development Bank of India (SIDBI), Union Bank of India (UBI), HDFC, Bank of Baroda, Tata Capital, Greenlance Energy, Ecofy, Credit Fair, and Paytm as the primary lending partners.
TPSSL has designed financing models to cater to diverse customer profiles, accommodating both Residential comprising individual houses and housing societies and Commercial & Industrial clients including MSMEs, Mid and Large sized Corporates, Hospitals, Institutions etc.
TPSSL has successfully facilitated financial solutions to over 2,200 Commercial & Industrial customers. These projects are valued at approximately ₹ 3,400 crore.
The quantum of solar power financed includes 850 MW for non-residential and about 9 MW for residential customers. Further, TPSSL has facilitated residential loans to over 1,000 customers, contributing to projects valued at around ₹ 55 crore.
These innovative financial models facilitated by the company support over 85% of the addressable order book and are designed with the objective to empower enterprises and individuals to embrace sustainable practices through minimal initial capital outlay and substantial long-term returns. TPSSL’s financing initiatives have made a significant impact pan India. Notably, Maharashtra, Gujarat, Punjab, Karnataka, and Rajasthan stand out as the top 5 states actively availing the financing solutions.
TPSSL has also simplified the loan application and sanctioning process with all its key partners helping it achieve a remarkable milestone with the fastest average Sanction Turnaround Time (TAT), clocking in at just four working days.
Tata Power was awarded the ‘Most Prominent Player’ in Customer Financing by IEEFA & J&K Research Analytics in September 2023 for its outstanding contributions in this domain.
Tata Power Renewable Energy Limited stands at the forefront of the renewable energy landscape. With solar rooftop portfolio of 1.8GW, the Company is making significant strides across various states and cities. The comprehensive solutions cover residential, commercial & industrial, MSMEs, large enterprises, group captive, and other customized offerings, showcasing a commitment to diverse energy needs. Leveraging 34 years of experience and the trust of Tata brand, the Company excels in operational and maintenance services across 275+ cities and demonstrates technological prowess with its indigenous cells and modules. With its strong commitment to customer satisfaction and the extensive network of channel partners further solidifying its position as a trusted leader in the renewable energy sector.
About Tata Power Renewable Energy Limited:
Tata Power Renewable Energy Limited (“TPREL”) is a subsidiary of The Tata Power Company Limited and is one of the country’s most significant renewable energy players. TPREL is a developer of renewable energy projects (including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage) that it owns, operates, and maintains. It also offers comprehensive green energy solutions for rural and urban areas like turnkey, EPC and O&M solutions for various business segments like utility-scale projects, solar rooftop, and solar pump systems. Along with its extensive portfolio of renewable solutions, it has a state-of-the-art solar cell and module manufacturing plant of 530 MW solar cells and 682 MW modules in Bengaluru and plans to set up a Greenfield to set up a Greenfield 4.3 GW solar cell & solar module plant in Tamil Nadu. In addition, TPREL also provides electric vehicle (EV) charging solutions across various segments and other advisory solutions across the renewable sector. As on date, TPREL’s total renewable utility capacity is 9,012 MW* (PPA capacity is 7,626 MW) including 4,752 MW projects under various stages of implementation and its operational capacity is 4,260 MW, which includes 3,241 MW solar and 1,019 MW wind. Presently, the company’s solar EPC portfolio is more than 12.8 GWp of ground-mount utility-scale, over 1.8 GW of rooftop and distributed ground-mounted systems, and over 1,00,000 solar water pumps. TPREL aims to provide energy access to millions of people across the country via its integrated green energy solutions. Know more: www.tatapowersolar.com
About Tata Power:
Tata Power (NSE: TATAPOWER; BSE:500400) is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 14,453 MW. The Company has a presence across the entire power value chain – generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, and trading. The Company developed the country’s first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 5,593 MW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 39% of the overall portfolio, the company is a leader in clean energy generation. It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from the Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand.
Tata Power is currently serving more than 12.9 million consumers via its Discoms, under a public-private partnership model viz Tata Power Delhi Distribution Ltd. with the Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.
With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. In its 108 years track record of technology advancements, project execution excellence, world-class safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com
