Tata Power, India’s largest integrated power company announced a partnership with Small Industries Bank of India (SIDBI) to provide affordable financing scheme for MSME customers in the rooftop segment.
In order to promote greener tomorrow, the scheme will empower MSMEs to adopt sustainable energy for their businesses. One of the barriers to the penetration of solar energy in the MSME sector was easy and affordable financing.
“Green energy has gained momentum in sectors like MSME. We are pleased to partner with SIDBI for an innovative financing solution for our MSME customers, said Praveer Sinha, CEO and Managing Director of Tata Power.
This partnership will provide a financing solution without any collateral at an interest rate of less than 10 per cent. This will be complemented with a sanction within seven days and disbursement in four days.
The scheme is for MSME customers of Tata Power for both off-grid and on-grid connections.
Tata Power is India’s largest integrated power company and, together with its subsidiaries and jointly controlled entities, has an installed or managed capacity of 12,772 megawatts.
