Tata Power Solar’s Strategic Financing Partnerships And Impactful Customer Solutions

- Advertisement -
- Advertisement -
  • Established partnerships with over 20 prominent financial institutions, offering financing for up to 85% of the eligible order book. 
  • To date, more than 2,200 commercial and industrial (C&I) customers have benefited from personalized financing solutions. 

In a significant development for the solar energy sector in India, Tata Power Solar Systems Limited (TPSSL), an integral part of Tata Power Renewable Energy Limited (TPREL) and a subsidiary of Tata Power, has played a pivotal role in advancing the country’s transition to green energy. Over the past 4.5 years, TPSSL has been instrumental in securing customer financing exceeding ₹3,500 crore for solar projects, positioning Tata Power as the premier choice for solar energy in India. This achievement underscores the company’s commitment to facilitating the widespread adoption of solar energy across the nation.

The company’s success in this arena is attributed to its collaborations with over 20 financing partners, including Public Sector Undertakings (PSUs), private banks, and Non-Banking Financial Companies (NBFCs). Notable partners in this extensive network include the State Bank of India (SBI), HDFC, Bank of Baroda, Tata Capital, and Paytm. These partnerships have been crucial in developing financing models that cater to a broad spectrum of customers, ranging from residential homes and societies to commercial and industrial entities, including MSMEs, large corporations, hospitals, and educational institutions. The company has facilitated financial solutions for more than 2,200 commercial and industrial clients, with projects valued at approximately ₹3,400 crore. This encompasses financing for 850 MW of solar power installations for non-residential customers and about 9 MW for residential ones. Additionally, TPSSL has extended residential loans to over 1,000 customers, supporting projects worth around ₹55 crore.

Its financing models, covering over 85% of its addressable order book, aim to empower businesses and individuals to adopt sustainable energy solutions with minimal initial investment and attractive long-term returns. These initiatives have had a significant impact across India, particularly in states like Maharashtra, Gujarat, Punjab, Karnataka, and Rajasthan, which lead in availing these financing solutions. The company has streamlined the loan application and sanctioning process with its partners, achieving an impressive average sanction turnaround time of just four working days. This efficiency contributed to Tata Power being recognized as the ‘Most Prominent Player’ in Customer Financing by the Institute for Energy Economics and Financial Analysis (IEEFA) and J&K Research Analytics in September 2023, highlighting its exceptional contributions to the sector.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

How Effective Will The Global Biofuel Alliance Be?

0
From environmental benefits to economic opportunities, the potential of biofuels in revolutionising our energy landscape. India has made history by hosting the 18th G-20 summit...
Marina

Investments In Drone Industry Decline To US$1.7 billion

0
The 2023 data now separates drone company funding from AAM/eVTOL funding, which significantly boosted the total in 2020 and 2021. Drone companies received US$1.7 billion...

“Now’s A Great Time To Make In India”

0
In news and in current affairs relevant to the current geopolitical situation, India is emerging as one of the fastest-growing electronics manufacturing services nations...

Buzz

Quantum Circuits Logo

Quantum Circuits Appoints Ray Smets As CEO

0
His contributions to mobile networking technology have earned him over ten international patents. Quantum Circuits, Inc., a pioneer in fault-tolerant quantum computing, has announced the...

Jakson Green Signs Power Purchase Agreement With SECI

0
It is estimated to power 100,000 households annually, reduce 188,000 MT of carbon emissions each year, and boost job opportunities. Jakson Green, a leading player...

ZF Expands Aftermarket Commercial Vehicle Range With ADAS Sensors

0
Advanced Driver Assistance Systems (ADAS) are gaining traction in the commercial vehicle market. Since 2015, trucks have been required to have automatic emergency braking...

Important Sectors

Feb EV Sales: Electric Car Sales Decline, Startups Rise Once Again

0
Electric two-wheelers and electric three-wheelers continue to dominate the electric vehicle sales figures in India. Electric car adoption, on a larger scale, seems to...

Jakson Green Signs Power Purchase Agreement With SECI

0
It is estimated to power 100,000 households annually, reduce 188,000 MT of carbon emissions each year, and boost job opportunities. Jakson Green, a leading player...

ZF Expands Aftermarket Commercial Vehicle Range With ADAS Sensors

0
Advanced Driver Assistance Systems (ADAS) are gaining traction in the commercial vehicle market. Since 2015, trucks have been required to have automatic emergency braking...

Samsung Semiconductor India Research Launches New R&D Facility in Bangalore

0
The facility spans 1.6 lakh square feet across four floors and is designed to accommodate around 1,600 employees. Samsung Semiconductor India Research (SSIR) has inaugurated...
Intel, Digital India, CPU

Intel Eyes AI For Standalone Programmable Chip Unit Altera

0
The contract manufacturing customers, including Intel's own business units, may receive favorable pricing.  Intel's standalone programmable chip unit, Altera, is eyeing a significant opportunity in...

Manufacturing

Union Cabinet Approves CG-Led JV Proposal For OSAT Facility In Sanand

0
CG Power owns a 92.3% stake, while Renesas Electronics and Thai OSAT provider Stars Microelectronics will have 6.8% and 0.9% equity, respectively in the...

Govt Sanctions 3 Semiconductor Plants; Rs 1.26 Lakh Cr Investment

0
The Dholera (Gujarat) semiconductor fab will produce 50,000 wafers monthly. In contrast, the Morigaon (Assam) and Sanand (Gujarat) units will assemble, test, monitor, and...

“Now’s A Great Time To Make In India”

0
In news and in current affairs relevant to the current geopolitical situation, India is emerging as one of the fastest-growing electronics manufacturing services nations...

MeitY Secretary: Domestic Semiconductor Manufacturing Is The Next Big Thing

0
At the India Digital Summit (IDS) 2024, S Krishnan, Secretary of MeitY, highlighted that India is on the brink of a major move towards...

Tata Picks Somerset For UK Battery Plant

0
The Bridgewater factory, operated by the subsidiary Agratas, will initially produce batteries for JLR and Tata Motors; with a capacity of 40GWh, it will...