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Tata Power on Friday said its arm Tata Power Renewable Energy Ltd (TPREL), has joined hands with Canara Bank to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme. This collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future, a Tata Power statement said. As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable. "Our partnership with Canara Bank marks a significant step in accelerating the adoption of rooftop solar systems nationwide," Deepesh Nanda, CEO & Managing Director, TPREL said. For systems with a capacity of up to 3 kW, the scheme offers loans of up to Rs 2 lakh with a 10 per cent margin money requirement, collateral-free financing, a competitive interest rate of 7 per cent per ...
Tata Power Solar Systems on Tuesday announced its partnership with state-owned Indian Bank to promote the adoption of solar rooftop among residential consumers. The collaboration aims to facilitate financing solutions under the popular Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme for installations up to 3 KW, as well as extend support for installations ranging from 3 to 10 KW under the regular scheme, a statement said. Under the framework of the PM Surya Ghar Muft Bijli Yojana initiative, residential consumers can avail of loans up to Rs 2 lakh at an annual interest rate of 7 per cent, in compliance with government regulations. With a nominal margin money requirement of 10 per cent and collateral-free financing, homeowners can embark on their solar journey with ease. Furthermore, the tenure for repayment extends up to 10 years, offering flexibility and convenience. For installations exceeding 3 KW up to 10 KW, TPSSL and Indian Bank present a tailored financing solution that .
Prime Minister Narendra Modi on Saturday said more than one crore households have already registered under the rooftop solar scheme 'PM-Surya Ghar: Muft Bijli Yojana', and lauded it as "outstanding news". "Registrations have been pouring in from all parts of the nation. Assam, Bihar, Gujarat, Maharashtra, Odisha, Tamil Nadu and Uttar Pradesh have seen over 5 lakh regulations," he said in a post on 'X'. The prime minister also asked those who have not yet registered to do so at the earliest, noting that the initiative promises substantial reductions in electricity expenses for households along with ensuring energy production. "It's poised to encourage Lifestyle for Environment (LiFE) on a grand scale, contributing to a better planet," he said. The Union Cabinet, chaired by the prime minister, last month approved the scheme with a total outlay of Rs 75,021 crore for installing rooftop solar panels and providing free electricity up to 300 units every month for one crore households.