Tata Power Solar Systems Limited (TPSSL) Partners with ICICI Bank to Boost Solar Adoption

Tata Power Solar Systems Limited (TPSSL), a leading solar energy solutions provider in India and a subsidiary of Tata Power Ltd, has announced a strategic partnership with ICICI Bank Limited to make solar power more accessible and affordable for both residential and corporate customers.

Under this collaboration, ICICI Bank will offer competitive loan options for customers purchasing solar panels from TPSSL. These loans come with attractive interest rates, flexible down payment options, and tenure options ranging from 5 to 20 years. Customers can avail of loans up to ₹90 lakh without collateral and even higher amounts with collateral.

TPSSL, a subsidiary of Tata Power Renewable Energy Limited (TPREL), is India’s leading solar rooftop company with a vast network of satisfied customers across the country. The company’s expertise and commitment to sustainable energy align perfectly with ICICI Bank’s focus on providing innovative financial solutions.

This partnership aims to accelerate the adoption of solar energy in India by simplifying the process of acquiring solar panels and reducing the upfront costs for customers.

Mr Deepesh Nanda, CEO and Managing Director, Tata Power Renewable Energy Limited, commented on the collaboration, stating, “Partnering with ICICI Bank marks a significant advancement towards the promotion of clean energy adoption. By introducing flexible financing solutions, we are supporting all segments of customers. This initiative empowers individuals and businesses alike to embrace sustainable energy, driving India towards a more environmentally friendly future.”

Mr Anuj Bhargava, Head- Global Clients Group, ICICI Bank, added, “Our collaboration with Tata Power Solar Systems reflects our dedication to support green energy initiatives and provide the residential and corporate customers with the financial assistance that they need to invest in solar solutions. We believe that this association will significantly help customers to adopt renewable energy.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.