Tata Power arm TPSSL partnered with Union Bank of India to provide Solar energy solutions
With loan limits extended up to Rs 15 lakh for Residential and Rs 16 crore for C&I customers, the renewed scheme plans to provide financing up to 80% and 85% for the respective categories.
![Tata Power arm TPSSL partnered with Union Bank of India to provide Solar energy solutions](https://www.psuconnect.in/sdsdsd/tata_power_arm_tpssl_partnered_with_union_bank_of_india_to_provide_solar_energy_solutions.jpg)
New Delhi: Tata Power Solar Systems Limited (TPSSL), a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced the renewal and expansion of its partnership with the Union Bank of India to offer solar energy solutions.
With loan limits extended up to Rs 15 lakh for Residential and Rs 16 crore for C&I customers, the renewed scheme plans to provide financing up to 80% and 85% for the respective categories. Notably, both categories will have access to collateral-free financing options, making the transition to solar energy more accessible.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThe loan tenure has also been extended up to 10 years, allowing households and businesses ample time for repayment. This renewed three-year agreement includes both Residential and C&I segments compared to the earlier one which focused only on the C&I segment and resulted in the financing of Rs 165 crore for the segment.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsIn line with the Government's commitment to promoting Residential Solar, this initiative by TPSSL and UBI is well aligned with the recently launched Government scheme PM-Surya Ghar Muft Bijli Yojana.
As part of this collaboration, a special scheme under the extended agreement has been introduced, specifically tailored for Residential customers. This initiative aims to improve accessibility and affordability for a wider audience, thereby making a significant contribution to the widespread adoption of solar solutions.
Read Also : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh