New Delhi: Bank of Baroda has signed a Memorandum of Understanding (MoU) with Tata Power Renewable Energy Limited (TPREL) to provide tailored solar financing solutions for Micro, Small and Medium Enterprises (MSMEs) and Commercial & Industrial (C&I) customers.Â
The initiative is aimed at promoting clean energy adoption through affordable and accessible credit.
The MoU was signed by Madhur Kumar, Chief General Manager, MSME Banking, Co-Lending & SCF Department at Bank of Baroda, and Shivram Bikkina, Chief of Rooftop Solar Business & EV Charging Business at TPREL.
Under the agreement, Bank of Baroda will extend collateral-free loans of up to Rs 10 crore for solar projects. The scheme offers flexible repayment options with a tenure of up to 120 months, relaxed margin requirements from 20 percent, and concessional processing fees.
The signing ceremony was witnessed by Dhrubashish Bhattacharya from Bank of Baroda and Nikita Kanodia, Head of Customer Financing, Business Development, Business Excellence & Ethics at TPREL.
The partnership highlights the commitment of both institutions to accelerating India’s transition to green energy. By easing financial barriers, it will enable MSMEs and C&I players to adopt solar power, reduce operational costs, and contribute to a low-carbon economy.
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