IndusInd Bank partners with Tata Power for MSE solar loans

IndusInd Bank joins Tata Power Renewable Energy in an initiative to fund rooftop solar, providing loans up to ₹2 crore for India’s MSE sector. (Image Source: PRNewswire)

Tata Power Renewable Energy Limited (TPREL) has partnered with IndusInd Bank to provide accessible solar financing for Micro and Small Enterprises (MSEs) in India. This partnership offers collateral-free loans ranging from ₹10 lakh to ₹2 crore with a 20% margin and loan terms of up to 7 years, contingent on credit approval. IndusInd Bank, focusing on sustainable financing, will help facilitate rooftop solar installations for businesses, supporting cost reduction and energy efficiency. TPREL has secured over ₹4,200 crore for solar rooftop financing by collaborating with more than 20 financial institutions, including public and private banks. TPREL has installed 2.5 GW of solar rooftops, with projected CO₂ reductions equivalent to planting 1.8 million trees over 25 years.