Tata Power Solar Systems and ICICI Bank signed an agreement

Tata Power Solar Systems Ltd (TPSSL) has signed an agreement with ICICI Bank to provide financing for solar units to residential and corporate customers.As part of the agreement, customers can avail collateral-free options and loan amount up to Rs 90 lakh for a tenure of up to 5 years. They can also avail higher loan amount with collateral with a tenure of up to 20 years, said TPSSL, a wholly-owned subsidiary of Tata Power Renewable Energy Ltd (TPREL). Also Read – Bengaluru IT company denies allegations after surprise US lawsuit
“TPSSL has announced its strategic collaboration with ICICI Bank to provide loans for purchase of solar panels/units for residential and corporate customers,” the company said in a statement. Customers can avail flexible down-payment option at 20-25 per cent of the loan amount, making it easier for them to invest in solar power, the company said. TPREL, an arm of Tata Power, is a developer of renewable energy projects.