Tata Power unit facilitates $421.6m customer financing for solar projects

This includes financing for C&I and residential customers.

Tata Power Solar Systems Limited collaborated with financing partners, enabling over $421.6m (INR3,500) crore of customer financing for solar projects in the last four and a half years.

In a statement, Tata Power said it facilitated financial solutions to more than 2,200 consumers in commercial & industrial consumers worth around $409.6m (INR3,400 crore) with a total of 850-megawatt (MW) solar power projects financed for non-residential consumers.

ALSO READ: Tata Power to develop 10 GW renewable projects in Gujarat

The company also led residential loans to over 1,000 customers for projects valued at around $6.6m (INR55 crore), with a total capacity of about 9 MW.

Tata Power Solar partnered with over 20 active financing partners including the State Bank of India, Small Industries Development Bank of India, Union Bank of India, HDFC, Bank of Baroda, Tata Capital, Greenlance Energy, Ecofy, Credit Fair and Paytm as primary lending partners.

$1 = INR83.01

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