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IndusInd Bank and Tata Power Renewable partner to provide collateral-free solar loans to MSEs

IndusInd Bank and Tata Power Renewable partner to provide collateral-free solar loans to MSEs
Tata Power Renewable Energy Ltd. (TPREL) has entered a strategic partnership with IndusInd Bank to provide Micro and Small Enterprises (MSEs) with financing options for solar installations, the company announced on Tuesday. Through this collaboration, Tata Power Renewable and IndusInd aim to ease the transition to solar energy for MSEs by offering collateral-free loans ranging from Rs 10 lakh to Rs 2 crore.

These loans, subject to IndusInd Bank’s credit approval, come with a 20 percent margin requirement and offer competitive interest rates. Borrowers will have the flexibility to repay these loans over a period of up to seven years. Deepesh Nanda, CEO & MD of Tata Power Renewable Energy, noted the broader benefits of the collaboration, emphasizing that the financing options “will not only help MSEs reduce operational costs but also actively contribute to the green energy transition.”

This partnership reflects a growing trend of collaboration between financial institutions and renewable energy firms, as more public and private lenders, such as State Bank of India, are working with solar developers to offer tailored financing solutions for both commercial and residential solar projects. Just last week, Solex Energy partnered with SBI to offer financing of up to Rs 10 crore for solar projects across commercial, industrial, and institutional sectors.

As a subsidiary of Tata Power, Tata Power Renewable Energy Limited (TPREL) specialises in a wide array of renewable projects, including solar, wind, hybrid, and storage solutions. This new partnership with IndusInd Bank aligns with TPREL’s vision of promoting sustainable energy solutions across India, offering accessible financing as a key step toward a low-carbon future for small businesses.

(With inputs from agencies)

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