Tata Power Solar Systems Limited (TPSSL), a wholly-owned subsidiary of Tata Power Renewable Energy Limited, has announced partnership with ICICI Bank, to provide loans to finance the purchase of solar panels or units for residential and corporate consumers.
Under this partnership, customers can avail of loans up to Rs 9 million with collateral-free options and time period extending up to five years. They can also avail higher amounts of loans with collaterals with tenures of up to 20 years. Customers will also have the option of flexible down-payment at 20-25 per cent of the loan amount. This is aimed at making it easier for individuals to invest in solar energy by making it accessible and affordable.