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Yes Bank to subsidize MSMEs' solar installations
YES BANK has introduced YES KIRAN, a solar installation finance program for Micro, Small and Medium Enterprises (MSME) producers. To help businesses make the switch to renewable energy sources, the bank has worked with firms including Tata Power Solar Systems, Goldi Solar, Loom Solar, and Panasonic Solar Power System.
The program intends to assist MSMEs in implementing sustainable energy practices while reducing costs for fuel and electricity. Reduced operational costs, flexible financing terms at affordable interest rates, end-to-end support from the YES BANK team during the full..
Tata Power Solar receives contract for solar project in Rajasthan
Tata Power Solar Systems (TPSSL) has obtained a Rs 17.55 billion Letter of Award (LoA) for a 300 MW domestic content requirement (DCR) based EPC project for NLC India (NLCIL), formerly known as Neyveli Lignite Company.
The project, located in the Bikaner area of Rajasthan, is estimated to generate more than 750 million units and save 6 lakh tons of CO2 every year.
TPSSL will additionally operate and maintain the project for three years following the commercial operation declaration (COD). The project's LoA was granted through competitive bidding. The project will be commissi..
Tata Power Solar; Union Bank tie up for MSME loans
Tata Power Renewable Energy’s subsidiary Tata Power Solar Systems has partnered with Union Bank of India to provide a term loan to medium, small and micro enterprises to set up rooftop mounted solar units.
The partnership aims to help MSMEs save on electricity costs and to improve access to green energy. With nil or minimum collateral, Tata Power’s customers from MSME industries can avail of loans up to Rs 80 million.
The public sector bank said that the scheme also requires a minimum down payment of only 15-20% of project cost, making it very attractive for MSMEs. This..
NCLAT Halts ATS Projects' Insolvency
The National Company Law Appellate Tribunal (NCLAT) has intervened to halt the insolvency process of ATS Projects, a significant development in the ongoing legal proceedings. This decision comes amidst the insolvency proceedings initiated against ATS Projects, which had faced financial challenges in recent times.
The NCLAT's decision to halt the insolvency process reflects a significant development in the legal proceedings concerning ATS Projects. This intervention underscores the complexity of the case and the need for careful consideration of all aspects before proceeding further with..
IL&FS Seeks MMRDA Approval for Mumbai HQ Transfer
IL&FS (Infrastructure Leasing & Financial Services) has initiated steps to secure fresh approval from the Mumbai Metropolitan Region Development Authority (MMRDA) for the transfer of its headquarters in Mumbai. This move signifies the company's commitment to streamline its operations and realign its corporate infrastructure.
The decision to seek renewed approval from MMRDA comes amid IL&FS's efforts to optimise its resources and enhance operational efficiency. The proposed transfer of its headquarters reflects IL&FS's strategic real estate management approach aimed at consolidating its ..
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