Tata Power Renewable Energy Limited (TPREL) has recently signed an important agreement with Canara Bank. This partnership has been done with the aim of promoting the Pradhan Mantri Surya Ghar Free Electricity Scheme. The main objective of this initiative is to attract people towards solar energy and make this scheme more affordable.

Solar energy will expand with cheap financial assistance

Under this agreement between TPREL and Canara Bank, people will be able to get affordable financial assistance for installing solar power systems under the PM Surya Ghar Yojana. Under this scheme, a loan of up to Rs 2 lakh will be available for a solar system up to 3 kW. Along with this, 10 percent margin money will be required. The interest rate on this loan will be 7 percent and its maximum period will be 10 years.

Loan will increase for big solar systems

If someone needs a solar system of 3 kW to 10 kW, then a loan of up to Rs 6 lakh can be obtained under this scheme. For this, 20 percent margin money will be required. The interest rate on this loan will be 10 percent and its maximum period will also be up to 10 years.

Tata Power aims to promote clean energy

Dipesh Nanda, CEO and Managing Director, TPREL said about this initiative, "This step further strengthens our commitment to promote the widespread use of solar energy in India." He believes that by providing affordable finance options under the PM Surya Ghar Yojana, Tata Power aims to make clean energy solutions accessible to every household and meet India's renewable energy objectives.

Importance of PM Surya Ghar Yojana

Prime Minister Narendra Modi launched the PM Surya Ghar Free Electricity Scheme on February 15, 2024. The main objective of this scheme is to provide cheap and clean electricity to poor and middle class families. Its goal is to change the energy landscape of India and connect every home with clean energy.

influence of tata power

TPREL currently has over 1 lakh solar rooftop customers and provides renewable energy solutions for residential, commercial, industrial and large enterprises. Through this new agreement, Tata Power and Canara Bank aim to bring a new revolution in the field of solar energy in India.

This initiative is an important step towards promoting solar energy in India and making the PM Surya Ghar Yojana a success.