Tata Power Solar Systems Limited announced its strategic partnership with Indian Bank in India to bolster the adoption of solar rooftop among residential consumers. The collaboration aims to facilitate financing solutions under the popular Pradhan Mantri Surya Ghar Muft Bijli Yojana scheme for installations up to 3 KW, as well as extend support for installations ranging from 3 to 10 KW under the regular scheme. Under the framework of the PM Surya Ghar Mu ft Bijli Yojana initiative, residential consumers can avail loans up to INR 0.2 million at an annual interest rate of 7%, in compliance with government regulations.

With a nominal margin money requirement of 10% and collateral-free financing, homeowners can embark on their solar journey with ease. Aligned with the Government's commitment to champion Residential Solar, this collaboration between TPSSL and Indian Bank seamlessly integrates with the core objectives of the Government's PM-Surya Ghar MuftBijli Yojana initiative. By prioritizing improved accessibility and affordability for a broader spectrum of stakeholders, this initiative is poised to make a profound impact on the widespread adoption of solar solutions.

TPSSL stands at the forefront of the renewable energy landscape. With a solar rooftop portfolio of over 2 GW, the Company is making significant strides across various states and cities. TPSSL aims to provide energy access to millions of people across the country via its integrated green energy solutions.