₹3,500 Crore Solar Push: Tata Power Unlocks Financing for India

₹3,500 Crore Solar Push: Tata Power Unlocks Financing For India

Tata Power Solar Systems has announced that it has facilitated customer financing worth more than Rs 35 billion for solar projects in the past 4.5 years. TPSSL achieved this by collaborating with over 20 financing partners, including public sector organizations, private banks, and non-banking financial companies.

Some of the main lenders in this extensive network include State Bank of India, Small Industries Development Bank of India, Union Bank of India, HDFC, Bank of Baroda, Tata Capital, Greenlance Energy, Ecofy, Credit Fair, and Paytm.

Tata Power Renewable Energy Limited, in partnership with Chengmari Tea Estate, has recently finished installing a 1,040 kW bifacial solar system project in January 2024.

Tata Power entered into a power delivery agreement with Force Motors Limited and Jaya Hind Industries in December 2023. The agreement involves supplying clean power for a period of 25 years as part of a group captive scheme.

In November 2023, they have received confirmation from SJVN Limited to establish a 200 MW reliable and flexible clean energy project, with the possibility of expanding further.

TPSSL has created various financing models to serve a wide range of customers, including residential customers such as individual homeowners and housing societies, as well as commercial and industrial clients such as small and medium-sized enterprises, large corporations, hospitals, and institutions.

tata power solar
Tata Power Solar has effectively provided financial solutions to more than 2,200 Commercial & Industrial customers, with a total project value of around ₹ 3,400 crore. A total of 850 MW of solar power has been financed for non-residential customers, while 9 MW has been financed for residential customers. Additionally, TPSSL has provided loans to more than 1,000 residential customers, contributing to projects worth approximately ₹55 crore.

This is a Syndicate News Feed edited by Clean-Future Team