Tata Power Renewable Energy Limited (TPREL), a leading renewable energy company and subsidiary of The Tata Power Company Limited, has joined hands with Bank of Baroda to provide innovative financing solutions for MSME and Commercial & Industrial (C&I) customers looking to adopt solar energy.
Under this new Memorandum of Understanding (MoU), Bank of Baroda will offer financial assistance for solar equipment and projects up to 10 MW capacity through TPREL or its authorized channel partners. This partnership aims to make renewable energy adoption easier, reduce operational costs, and contribute to India’s sustainability goals.
The financing scheme offers attractive benefits, including interest rates starting at 7.75%, collateral-free loans up to ₹10 crore with CGTMSE coverage, flexible repayment tenure up to 120 months, pan-India coverage, reduced margin requirements from 20%, and concessional processing fees.
As of August 2025, TPREL has completed over 2.49 lakh rooftop solar installations, achieving a cumulative capacity of more than 3.6 GWp. In the C&I sector, TPREL serves a wide range of industries such as Hospitality, Automotive, Aviation, Education, HVAC, Chemical, Steel, Electronics, and Textiles.
This collaboration highlights TPREL’s commitment to accelerating clean energy adoption across industries while reinforcing Bank of Baroda’s focus on green financing. The initiative also strengthens India’s journey toward a low-carbon economy and contributes to the nation’s ambitious target of 500 GW renewable energy capacity by 2030.
