Tata Power Solar and SIDBI to provide loans for MSMEs adopting rooftop solar PV

Tata Power Solar Systems Limited (TPSSL), a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TREPL), the energy solutions division of the Tata Group, has entered into a strategic alliance with the Small Industries Development Bank of India (SIDBI), the leading financial institution dedicated to supporting MSMEs in India. This partnership is designed to provide financial solutions to MSMEs interested in installing rooftop Solar PV systems from Tata Power or its accredited distribution partners.

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Tata Power Solar Systems Limited (TPSSL), a fully-owned subsidiary of Tata Power Renewable Energy Limited (TREPL), the energy solutions arm of the Tata Group, has forged a collaboration with the Small Industries Development Bank of India (SIDBI), the primary financial institution serving MSMEs in India. This partnership aims to offer financing solutions to MSMEs seeking to install rooftop Solar PV systems from Tata Power or its authorized distribution partners.

Dr. Praveer Sinha, CEO & MD of Tata Power stated, “Micro, Small, and Medium Enterprises (MSMEs) form the cornerstone of India’s economy, spanning various industrial sectors and being significant electricity consumers. Our strategic partnership with SIDBI will streamline the process of adopting renewable energy within the MSME sector, empowering it to enhance efficiency and compete effectively on the global stage.”

Tata Power Solar and SIDBI have jointly introduced “The Big Solar Fest” to promote the adoption of solar energy among MSMEs during the upcoming festive season. This initiative offers a zero percent processing fee and provides an online application portal for MSMEs to access the scheme’s advantages.

According to Sivasubramanian Ramann, Chairman and managing director, SIDBI, “We have strong confidence that our collaboration with Tata Power Solar will lead to improved product and service quality for MSMEs, ultimately contributing to their growth and the path towards decarbonization. We hold a positive outlook for this partnership and, specifically, “The BIG SOLAR FEST,” which we believe will play a significant role in expediting the adoption of renewable energy, particularly within the MSME sector.”