TPREL partners with Canara Bank to promote rooftop solar adoption under PM Surya Ghar scheme

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company Limited, has partnered with Canara Bank to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme.  The collaboration aims to make solar energy solutions more accessible and affordable for households by providing tailored financing options. Under the scheme, for systems up to 3 kW capacity, loans of up to Rs 200,000 are offered with a 10 per cent margin money requirement, collateral-free financing, a competitive interest rate of 7 per cent per annum, and a tenure of up to 10 years. For systems ranging between 3 kW and 10 kW, the scheme provides loans up to Rs 600,000 with a 20 per cent margin money requirement, collateral-free financing, and an interest rate of 10 percent per annum, with a maximum tenure of 10 years.