Partnership offers loans up to ₹90 lakh for residential and corporate solar panel purchases
Tata Power Solar and ICICI Bank join forces to provide accessible financing options for solar panel installations across India.
JAMSHEDPUR – Tata Power Solar Systems Limited has announced a strategic partnership with ICICI Bank to provide customized financing for the acquisition of solar panels.
The partnership’s objective is to increase the affordability and accessibility of sustainable energy solutions to a broader consumer base.
ICICI Bank will offer loans with collateral-free options and tenures of up to five years, with a maximum amount of ₹90 lakh to anyone interested in availing these.
Higher loan quantities are also available for tenures of up to 20 years when collateral is provided.
Flexible down-payment options are available to customers, with the range of 20-25% of the loan amount.
Both residential and corporate consumers are assisted by the initiative in their transition to solar energy.
The importance of this collaboration was underscored by Mr. Deepesh Nanda, CEO & Managing Director of Tata Power Renewable Energy Limited.
"Partnering with ICICI Bank marks a significant advancement towards the promotion of clean energy adoption," Nanda emphasized.
He further added that the financing solutions that were flexible would assist all customer segments in adopting sustainable energy and helping the environment.
The bank’s dedication to renewable energy initiatives was underscored by Mr. Anuj Bhargava, Head of Global Clients Group at ICICI Bank.
Tata Power Solar is acknowledged as the premier solar rooftop enterprise in India, with a customer base of more than 70,000 satisfied customers.
The organization provides comprehensive solar solutions for both residential and commercial applications throughout India.
This partnership serves as a testament to Tata Power’s commitment to accelerate India’s transition to sustainable energy by means of innovation and excellence.
