Tata Power Solar Systems Limited (TPSSL), a top solar energy company in India and a subsidiary of Tata Power Renewable Energy Limited (TPREL), has announced a strategic partnership with ICICI Bank, one of India’s leading private sector banks. This collaboration is designed to provide financing options for both residential and corporate customers looking to invest in solar panels.
The goal of this partnership is to make solar energy more accessible and affordable, encouraging wider adoption of sustainable energy solutions. ICICI Bank will offer customized financial products with competitive interest rates for customers purchasing solar panels from Tata Power Solar.
Loan options include amounts up to ₹90 lakh without collateral, with repayment terms of up to 5 years. For those needing larger loans, collateral-backed options are available with repayment periods extending up to 20 years. Customers can also take advantage of flexible down payment options, requiring only 20-25% of the loan amount, making it easier to switch to solar energy.
Commenting on the collaboration, Deepesh Nanda, CEO & Managing Director of Tata Power Renewable Energy Limited, said, “This partnership with ICICI Bank represents a major step forward in promoting the adoption of clean energy. By providing flexible financing options, we are empowering a wide range of customers to transition to sustainable energy, contributing to a greener future for India.”
Anuj Bhargava, Head of the Global Clients Group at ICICI Bank, added, “Our alliance with Tata Power Solar Systems underscores our commitment to supporting green energy initiatives. We are dedicated to offering the financial assistance needed by residential and corporate customers to invest in solar solutions. This collaboration will play a crucial role in helping more customers embrace renewable energy.”
Tata Power Solar, recognized as India’s leading solar rooftop company, has a strong track record with over 70,000 satisfied customers. The company provides comprehensive solar solutions for both residential and commercial use, with a broad presence across India. Tata Power’s commitment to excellence and innovation continues to drive the country’s transition to sustainable energy.
