Tata Power Renewable Energy Ltd Partners with Bank of Baroda to Provide Solar Financing for MSMEs.

Tata Power Renewable Energy Ltd (TPREL) has entered into an agreement with Bank of Baroda to provide financing solutions for micro, small, and medium enterprises (MSMEs) as well as Commercial & Industrial (C&I) units looking to invest in solar equipment and projects.

Under this partnership, Bank of Baroda will offer financial assistance to borrowers purchasing solar equipment and projects with capacities of up to 10 MW through TPREL or its authorised partners, the company said in a statement on Friday.

The financing scheme features attractive terms including interest rates starting at 7.75%, collateral-free loans of up to ₹10 crore, coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), and flexible repayment tenures of up to 120 months, making it easier for businesses to adopt solar energy solutions.