New Delhi, Nov. 17 -- Tata Power Renewable Energys subsidiary Tata Power Solar Systems has partnered with Union Bank of India to provide a term loan to MSMEs to set up rooftop mounted solar units.
With nil or minimum collateral Tata Powers customers from MSME industries can avail loans up to Rs 8 crore.
The partnership aims to help MSMEs save on electricity costs and to improve access to green energy.
The public sector bank said that the scheme also requires a minimum down payment of only 15-20% of project cost thus making it very attractive for MSMEs.
This is a part of the banks solar scheme called 'Union Solar' which was launched at a pan-India level, to relieve the MSMEs from the stress of higher power costs and grid exigencie...