Empowering Solar Adoption: Tata Power and Canara Bank Collaborate

Tata Power's renewable arm teams up with Canara Bank to enhance rooftop solar adoption under the PM Surya Ghar Scheme. The initiative offers flexible financing to make solar energy more accessible to households, aiming to boost India's sustainability efforts. Loans range from Rs 2 lakh to Rs 6 lakh, depending on system capacity.

In a significant move towards green energy adoption, Tata Power Renewable Energy Ltd (TPREL) has partnered with Canara Bank to promote rooftop solar systems through the PM Surya Ghar Scheme. The collaboration is aimed at simplifying solar energy solutions for households, offering attractive financing options to facilitate a shift towards sustainable energy practices.

This joint initiative provides tailored financing options, making rooftop solar installations more accessible and affordable. Loans are structured to be collateral-free with competitive interest rates, designed to support capacities ranging from 3 kW to 10 kW.

Tata Power statement emphasized the importance of this partnership to accelerate solar adoption, reflecting India's nationwide sustainability goals. With TPREL's total renewable capacity at 10.9 GW, this collaboration underscores the continued investment in moving towards a cleaner energy future.

(With inputs from agencies.)