Powering the Future: TPREL and Bank of Baroda's Solar Financing Revolution

Tata Power Renewable Energy Ltd (TPREL) has joined forces with Bank of Baroda in a pioneering move to facilitate financing for solar projects, targeting MSMEs and Commercial & Industrial units. The partnership aims to make solar adoption more accessible by offering tailored financial solutions.

The financial package from Bank of Baroda promises low-interest rates beginning at 7.75%, providing collateral-free loans up to Rs 10 crore. Leveraging the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) coverage, the initiative offers flexibility with repayment options lasting up to 120 months.

Progress in the sector is evident, with TPREL surpassing 2.49 lakh rooftop solar installations by August 2025, achieving a cumulative production capacity of over 3.6 GWp. The collaboration reflects a growing trend among renewable energy firms partnering with financial institutions to foster sustainable growth.

(With inputs from agencies.)