New Delhi, Sept. 27 -- Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has entered into a Memorandum of Understanding (MoU) with Bank of Baroda to provide financing solutions for micro, small and medium enterprises (MSMEs) and commercial and industrial (C&I) customers adopting solar energy.

Under the arrangement, Bank of Baroda will offer financial assistance for the purchase of solar equipment and projects of up to 10 MW capacity through TPREL or its authorised channel partners.

The initiative aims to support businesses in reducing operating costs and advancing India's renewable energy transition.

The financing scheme provides several benefits, including interest rates starting at 7.75 percent, collateral-free loa...