Tata Power Solar Systems Ltd (TPSSL), an integrated solar company in India and a wholly-owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), has facilitated over INR 3,500 crore ($422.15 million) of customer financing for solar projects during the last 4.5 years.
TPSSL has achieved this feat through collaborations with more than 20 active financing partners, including public-sector units, private banks, and non-banking finance companies. The extensive network consists of State Bank of India (SBI), Small Industries Development Bank of India (SIDBI), Union Bank of India (UBI), HDFC, Bank of Baroda, Tata Capital, Greenlance Energy, Ecofy, Credit Fair, and Paytm as the primary lending partners. For instance, MSMEs willing to opt for rooftop solar PV plants or associated services from Tata Power or its authorized channel partners across India are financially supported by SIDBI with low-cost loans.
TPSSL has designed financing models to cater to diverse customer profiles, accommodating both residential clients (including individual houses and housing societies) and commercial and industrial clients (including MSMEs, mid- and large-sized corporates, hospitals, institutions, etc).
TPSSL has facilitated financial solutions to over 2,200 commercial and industrial customers. These projects are valued at around INR 3,400 crore.
The quantum of solar power financed includes 850 MW for non-residential and about 9 MW for residential customers. Further, TPSSL has facilitated residential loans to over 1,000 customers, contributing to projects valued at around INR 55 crore.
The innovative financial models facilitated by the company support over 85% of its addressable order book and are designed with the objective to empower enterprises and individuals to embrace sustainable practices through minimal initial capital outlay and substantial long-term returns.
TPSSL has also simplified the loan application and sanctioning process with all its key partners.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.