Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company Limited, has inked a MoU with Bank of Baroda. The MoU is inked to provide financing solutions for micro, small, and medium enterprises and commercial and industrial customers opting for solar energy.
Furthermore, through this partnership, Bank of Baroda will extend financial support to borrowers purchasing solar equipment and projects. The assistance will cover projects of up to 10 MW capacity through TPREL or its authorised channel partners.
The financing scheme offers benefits such as an interest rate starting at 7.75 per cent, collateral-free loans of up to Rs 0.1 billion under the Credit Guarantee Fund Trust for micro and mmall enterprises coverage. It also includes flexible repayment terms of up to 120 months, pan-India financing support, lower margin requirements beginning, and concessional processing fees.
Earlier in April 2025, TPREL and Tata Motors signed a power purchase agreement to jointly develop a 131 MW wind-solar hybrid renewable energy project.
