Tata Power Renewable Energy Limited (TPREL) has partnered with Canara Bank to support the implementation of the PM Surya Ghar Yojna scheme, which aims to make rooftop solar systems accessible and affordable for Indian households. This collaboration provides financing options designed to simplify the transition to solar energy and encourage wider adoption.
Under the scheme, households installing systems with a capacity of up to 3 kW can avail loans up to Rs 200,000 with a 10 per cent margin money requirement. These loans are collateral-free, with an interest rate of 7 per cent per annum and a maximum tenure of 10 years. For systems between 3 kW and 10 kW, loans of up to Rs 600,000 are offered with a 20 per cent margin money requirement, collateral-free financing, an interest rate of 10 per cent per annum, and a tenure of up to 10 years.
In July 2024, TPREL signed a MoU with NHPC Renewable Energy Limited (NHPC-REL) for the installation of rooftop solar projects on government buildings across central ministries, states, and union territories as a part of the PM Surya Ghar Yojna scheme.
