Key Highlights
- Bank of Baroda to finance solar projects up to 10 MW for Tata Power Renewable’s MSME and C and I customers
- Attractive interest rates starting from 7.75%
- Collateral-free loans up to ₹10 crore with CGTMSE coverage
- Flexible repayment tenure of up to 120 months
- Pan-India financing support with reduced margin requirements from 20%
Mumbai, September 26, 2025: Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company Limited, has signed a Memorandum of Understanding (MoU) with Bank of Baroda to promote clean energy adoption among Micro, Small and Medium Enterprises (MSME) and Commercial & Industrial (C&I) customers.
Through this collaboration, Bank of Baroda will provide financing for solar projects of up to 10 megawatts (MW) via TPREL or its authorised channel partners. The initiative is aimed at helping businesses reduce operational costs, adopt renewable energy with ease, and support India’s sustainability goals.
The scheme offers multiple benefits including interest rates starting from 7.75%, collateral-free loans of up to ₹10 crore under CGTMSE coverage, flexible repayment tenure of up to 120 months, pan-India financing coverage, lower margin requirements starting from 20%, and concessional processing fees.
As of August 2025, TPREL has installed more than 2.49 lakh rooftop solar systems, with a cumulative capacity of over 3.6 GWp. The company has served industries such as hospitality, automotive, aviation, education, HVAC, chemicals, steel, electronics, and textiles.