Affordable Solar Financing Options Launched to Boost Rooftop Adoption
Key Points:
- TPREL partners with Canara Bank for rooftop solar financing
- Loans up to ₹6 lakh offered under PM Surya Ghar Scheme
- Initiative aims to make clean energy affordable for households
JAMSHEDPUR – Tata Power Renewable Energy Limited (TPREL) has collaborated with Canara Bank to promote rooftop solar installations under the PM Surya Ghar Scheme, aiming to make clean energy affordable for Indian households.
The partnership simplifies access to financing for rooftop solar systems. Households can avail of collateral-free loans tailored to their energy needs. For systems up to 3 kW, the scheme offers loans of up to ₹2 lakh at a 7% annual interest rate, with a 10-year repayment tenure and only a 10% margin money requirement. Systems between 3 kW and 10 kW are eligible for loans up to ₹6 lakh, with interest rates of 10% per annum and a 20% margin money requirement.
Leaders on the Initiative
Mr. Deepesh Nanda, CEO & MD, TPREL, emphasized, “Our partnership with Canara Bank accelerates rooftop solar adoption, making clean energy accessible and fostering a sustainable ecosystem.”
Ms. R Anuradha, GM, Retail Assets, Canara Bank, stated, “We are providing financial tools to help households adopt solar energy, reduce costs, and contribute to India’s sustainability goals.”
TPREL: A Trusted Renewable Leader
TPREL, India’s No. 1 rooftop solar company, serves over 100,000 customers and operates in 275+ cities. Leveraging Tata’s trust and 34 years of EPC experience, TPREL delivers efficient energy solutions with indigenous technology.
Expanding Clean Energy Capacity
TPREL’s renewable energy portfolio has reached 10.9 GW, including 5.4 GW operational capacity (4.4 GW solar and 1 GW wind). Projects under implementation account for 5.5 GW, reflecting TPREL’s commitment to advancing India’s clean energy landscape.
