Solar adoption: Tata Power arm facilitates Rs 3,500 crore consumer financing, says Tata firm

Tata Power Ltd in a stock exchange filing on Friday said its wholly-owned integrated solar subsidiary Tata Power Solar Systems a wholly-owned subsidiary of Tata Power Renewable Energy, facilitated over Rs 3,500 crore of customer financing for solar projects during the last 4.5 years.

The Tata group firm said this has led the company to emerge as "the nation’s most preferred and trusted green energy partner which is mainstreaming the adoption of Solar Energy in the country. This momentum built over the years will help support the wide scaled adoption of solar energy in the country."

Tata Power said TPSSL facilitated financial solutions to over 2,200 Commercial and Industrial customers. These projects are valued at approximately Rs 3,400 crore.

"The quantum of solar power financed includes 850 MW for non-residential and about 9 MW for residential customers. Further, TPSSL has facilitated residential loans to over 1,000 customers, contributing to projects valued at around Rs 55 crore," it said.

Tata Power said the financial models facilitated by the company supported over 85 per cent of the addressable order book and are designed with the objective to empower enterprises and
individuals to embrace sustainable practices through minimal initial capital outlay and
substantial long-term returns.

"TPSSL's financing initiatives have made a significant impact pan India. Notably, Maharashtra, Gujarat, Punjab, Karnataka, and Rajasthan stand out as the top 5 states actively availing the financing solutions.," it said.

Shares of Tata Power edged 0.18 per cent higher to Rs 389.55 on BSE.

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