Tata Power Renewables signs MoU with Bank of Baroda

Tata Power Renewable Energy Limited (TPREL), one of India’s leading renewable energy companies and a subsidiary of The Tata Power Company Limited (Tata Power), has signed a Memorandum of Understanding (MoU) with Bank of Baroda, one of India’s premier public sector banks, to facilitate financing solutions for MSME and Commercial & Industrial (C&I) customers opting for solar energy.

Under this partnership, Bank of Baroda will extend financial assistance to borrowers purchasing solar equipment and projects of up to 10 MW capacity through TPREL or its authorized channel partners. This initiative is designed to help MSME and C&I businesses adopt renewable energy with greater ease, reduce operating costs, and contribute to India’s sustainability goals.

The financing scheme offers several key benefits, which include an attractive rate of interest starting from 7.75%, collateral-free loans of up to ₹10 crore CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) coverage, flexible repayment tenure of up to 120 months, pan-India financing coverage, reduced margin requirements (starting from 20%), and concessional processing fees.

As of August 2025, TPREL has successfully completed over 2.49 lakh rooftop solar installations, achieving a cumulative capacity exceeding 3.6 GWp. In the C&I segment, TPREL has catered to a diverse set of customers across various sectors viz – Hospitality, Automotive, Aviation, Education, HVAC, Chemical, Steel, Electronics, and Textiles, among others.

This collaboration underscores TPREL’s commitment to accelerating clean energy adoption across industries and highlights Bank of Baroda’s focus on strengthening green financing to support India’s transition towards a low-carbon economy.

It further reinforces TPREL’s position as a leader in India’s renewable energy journey, contributing to the nation’s target of achieving 500 GW of renewable energy capacity by 2030.