Tata Power Solar Systems Limited (TPSSL), a leading solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), announces its strategic collaboration with ICICI Bank, a leading private sector bank in India, to provide loans to finance the purchase of solar panels/ units for residential and Corporate customers.
This collaboration aims to enhance the accessibility and affordability of sustainable energy solutions for a broader adoption of solar energy. Under this collaboration, ICICI Bank will offer tailored financial solutions* with attractive interest rates, for the purchase of solar panels from Tata Power Solar. Customers can avail of loans up to ₹ 90 lakh with collateral-free options and tenure extending up to 5 years. They can also avail higher amounts of loans with collaterals with tenures of up to 20 years. Customers shall enjoy flexible down-payment options at 20-25% of the loan amount, making it easier for them to invest in solar energy.
Mr. Deepesh Nanda, CEO & Managing Director, Tata Power Renewable Energy Limited, commented on the collaboration, stating, “Partnering with ICICI Bank marks a significant advancement towards the promotion of clean energy adoption. By introducing flexible financing solutions, we are supporting all segments of customers. This initiative empowers individuals and businesses alike to embrace sustainable energy, driving India towards a more environmentally friendly future.”
Mr. Anuj Bhargava, Head- Global Clients Group, ICICI Bank, added, “Our collaboration with Tata Power Solar Systems reflects our dedication to support green energy initiatives and provide the residential and corporate customers with the financial assistance that they need to invest in solar solutions. We believe that this association will significantly help customers to adopt renewable energy.”
Tata Power Solar is recognized as India’s No. 1 solar rooftop company, leading the market with over 70,000 satisfied customers and comprehensive solar solutions for both residential and commercial applications. With an extensive pan-India presence, Tata Power ensures that customers across various regions can benefit from this initiative. The company’s legacy of excellence and innovation highlights its commitment to driving India’s transition to sustainable energy.
For more information and to apply for a solar loan, visit
[www.solaroof.tatapower.com](http://www.solaroof.tatapower.com) or call 1800 25 77777.
*Terms and conditions apply.
About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 18,92,697 crore on June 30, 2024.
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. Alongside its extensive portfolio of renewable solutions, the company boasts a cutting-edge solar cell and module manufacturing plant in Bengaluru, with capacities of 530 MW for solar cells and 682 MW for modules. Additionally, the company’s 4.3 GW cells and module manufacturing plant, TP Solar has completed the construction of a 4 GW module manufacturing facility, with the cell production facility set to be commissioned later this year. 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 10.1 GW (PPA capacity is 8.2 GW) including 5.3 GW projects under various stages of implementation and its operational capacity is 4.8 GW, which includes 3.8 GW solar and 1 GW wind. Presently, the company’s solar EPC portfolio is more than 13.5 GWp of ground-mount utility-scale, over 2 GW of rooftop and distributed ground-mounted systems. 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 15 GW. 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 6.2 GW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 41% 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 12.5 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
