Tata Power Solar Systems Ltd. on Friday announced its partnership with ICICI Bank to finance the purchase of solar panels or units for residential and corporate customers.
According to a press release, this collaboration aims to enhance the accessibility and affordability of sustainable energy solutions for a broader adoption of solar energy.
The company statement said customers can avail of loans up to ₹90 lakh from ICICI Bank with collateral-free options and tenure extending up to 5 years. Loans with collaterals, however, could extend up to 20 years.
The statement added that customers could enjoy flexible down-payment options at 20-25 percent of the loan amount, making investing in solar energy easier.
“This initiative empowers individuals and businesses alike to embrace sustainable energy, driving India towards a more environmentally friendly future,” said Tata Power Renewable Energy CEO Deepesh Nanda in the statement.
TPSS is the subsidiary of TPRE and is recognized as India’s No. 1 solar rooftop company, leading the market with over 70,000 customers and comprehensive solar solutions for residential and commercial applications.
Recent achievements
In March, TPSS successfully commissioned the country’s largest hybrid energy storage systems project, which comprises a 100 megawatts solar PV Project coupled with a 120 megawatt-hour battery energy storage system at Rajnandgaon in Chhattisgarh.
Last year, TPRE achieved a significant milestone by signing two memoranda of understanding with the Government of Tamil Nadu.
The first MoU outlines plans to develop 10,000 MW of renewable energy power projects, creating potential investments of ₹70,000 crores, generating 3,000 green jobs.
The second MoU expands the existing 4 GW solar cell and modules project in Tirunelveli District, with an additional investment of ₹800 crores, further contributing to the state’s clean energy transition.
This collaboration with the Tamil Nadu government could accelerate economic growth, generate jobs and advance environmental sustainability, solidifying the state’s leadership in India’s clean energy transition.
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