Tata Power Solar Systems, an arm of Tata Power Renewable Energy Ltd, has collaborated with ICICI Bank, a private-sector bank in India, to provide low-cost loans for purchase of solar panels for residential and corporate customers.
Under this collaboration, ICICI Bank will offer tailored financial solutions with attractive interest rates, for the purchase of solar panels from Tata Power Solar. Customers can avail of loans up to INR 90 lakh with collateral-free options and tenure extending up to 5 years. They can also avail higher amounts of loans with collaterals and tenures of up to 20 years. Customers will enjoy flexible down-payment options at 20-25% of the loan amount, making it easier for them to invest in solar energy.
Deepesh Nanda, CEO and managing director, Tata Power Renewable Energy, said, “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.”
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