Business Business: Tata Power on Friday said it has partnered with Canara Bank to promote the adoption of rooftop solar systems under Prime Minister Surya Khar's program. Tata Power said in a statement that the collaboration aims to provide consumers access to solar solutions by providing attractive financing options, allowing them to transition to a sustainable energy future.
As part of the initiative, households can avail financing options designed under PM Surya Khar's program to make rooftop solar installation more accessible and affordable.
“Our partnership with Canara Bank is an important step in accelerating the adoption of rooftop solar systems across the country,” said Deepesh Nanda, CEO and Managing Director, TPREL. For systems up to 3 kW capacity, the program is available at 10% cash margin. It offers loans up to Rs 2 lakh, collateral-free financing, a competitive interest rate of 7 per cent per annum and a tenure of up to 10 years.
For systems ranging from 3 kW to 10 kW, the program offers loans up to Rs 6 lakh with a cash margin of 20%, collateral-free financing and interest rates of 10% per annum, with a maximum tenure of 10 years. Have taken.
R Anuradha, GM, Retail Assets, Canara Bank, said, “Through this partnership, we are providing financial tools to households to adopt solar energy, thereby reducing their energy costs and at the same time meeting India's sustainability goals. contributing to.”
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