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Tata Power and SIDBI to finance MSMEs solar rooftop project

January 6, 2021 12:33 pm

Tata Power and SIDBI to finance MSMEs solar rooftop project

Tata Power on Tuesday announced a partnership with Small Industries Bank of India (SIDBI) to provide affordable financing scheme for MSME customers in the rooftop solar segment.

The scheme will empower MSMEs to adopt sustainable energy for their businesses and promote greener tomorrow, said India’s largest integrated power company.

Easy and affordable financing has been one of the barriers for penetration of solar energy in the MSME sector.Tata Power and SIDBI will provide a financing solution without any collateral at an interest rate of less than 10 per cent. This will be complimented with a sanction within seven days and disbursement in four days.

The scheme is for MSME customers of Tata Power for both off-grid and on-grid connections.

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