Tata Power Renewable Energy (TPREL) has signed an agreement with Bank of Baroda to provide tailored financing solutions for Micro, Small & Medium Enterprises (MSMEs) and Commercial & Industrial (C&I) units adopting solar equipment and projects.

Under this partnership, Bank of Baroda will extend financial assistance to borrowers purchasing solar equipment or undertaking solar projects of up to 10 MW capacity through TPREL or its authorised partners. The financing scheme offers attractive terms, including interest rates starting from 7.75 per cent, collateral-free loans up to Rs 100 million, coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), and flexible repayment tenures of up to 120 months.

As of August 2025, TPREL has successfully completed over 2.49 lakh rooftop solar installations, achieving a cumulative capacity exceeding 3.6 GWp. The collaboration aligns with broader efforts by renewable energy companies and banks to facilitate solar adoption among businesses across India.

News source: The Week