(MENAFN- KNN India) New Delhi, Sep 27 (KNN) Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has entered into a Memorandum of Understanding (MoU) with Bank of Baroda to provide financing solutions for micro, small and medium enterprises (MSMEs) and commercial and industrial (C&I) customers adopting solar energy.

Under the arrangement, Bank of Baroda will offer financial assistance for the purchase of solar equipment and projects of up to 10 MW capacity through TPREL or its authorised channel partners.

The initiative aims to support businesses in reducing operating costs and advancing India's renewable energy transition.

The financing scheme provides several benefits, including interest rates starting at 7.75 percent, collateral-free loans of up to Rs 10 crore under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), repayment tenure of up to 120 months, pan-India financing access, reduced margin requirements from 20 percent, and concessional processing fees.

TPREL has established a significant presence in the solar segment, having completed over 2.49 lakh rooftop installations with a cumulative capacity of more than 3.6 GWp as of August 2025.

In the C&I segment, it serves clients across sectors such as hospitality, automotive, aviation, education, HVAC, chemicals, steel, electronics, and textiles.

(KNN Bureau)

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