Tata Power Renewable Energy Limited (TPREL) has inked a MoU with UCO Bank for the acceleration of rooftop solar solutions adoption in India. The partnership aims to simplify and lower the cost of rooftop solar adoption by providing accessible financing options that align with the PM Surya Ghar: Muft Bijli Yojana.
Furthermore, as part of this collaboration, UCO Bank will provide financial support to both salaried and self-employed consumers for installing rooftop solar systems through the UCO Suryodaya Scheme. Customers can access loans of up to Rs 0.2 million at 6 per cent reducing interest rate for a tenure of up to 10 years with a 10 per cent margin. Additionally, for larger rooftop systems costing between Rs 0.2 million and Rs 0.6 million, the bank will offer financing of up to 80 per cent of the project cost. Interest rates will start at 7.40 per cent for home loan customers and 8.40 per cent for non-home loan customers. The scheme also offers added benefits such as zero processing fees and no documentation charges to make rooftop solar adoption more accessible and affordable.
In October 2025, TPREL inked a power purchase agreement with Tata Power Mumbai Distribution for a contracted capacity of 80 MW firm and dispatchable renewable energy project.
