Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has taken a significant step towards accelerating clean energy adoption in India. The company has signed a Memorandum of Understanding (MoU) with Bank of Baroda, one of India's leading public sector banks, to provide financing solutions for solar energy projects targeting Micro, Small and Medium Enterprises (MSME) and Commercial & Industrial (C&I) customers.

Key Highlights of the Partnership

• Bank of Baroda will finance solar projects up to 10 megawatts (MW) capacity through TPREL or its authorized channel partners.
• The financing scheme offers attractive interest rates starting from 7.75%.
• Customers can avail collateral-free loans up to ₹10 crore with CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) coverage.
• Flexible repayment tenure of up to 120 months is available.
• Reduced margin requirements starting from 20% and concessional processing fees are part of the offering.

TPREL's Solar Energy Achievements

TPREL has made significant strides in the solar energy sector:

• The company has completed over 2.49 lakh rooftop solar installations.
• The cumulative capacity of these installations exceeds 3.6 GWp.
• In the C&I segment, TPREL has served customers across various sectors including hospitality, automotive, aviation, education, HVAC, chemical, steel, electronics, and textiles.

Implications for Clean Energy Adoption

This partnership is expected to have far-reaching effects on clean energy adoption in India:

1. Easier Access to Finance: The collaboration aims to simplify the process for MSMEs and C&I customers to adopt solar energy by providing accessible financing options.

2. Cost Reduction for Businesses: By facilitating the transition to solar energy, this initiative is expected to help businesses reduce their operating costs.

3. Contribution to National Goals: The partnership aligns with India's target of achieving 500 GW of renewable energy capacity by 2030, supporting the nation's sustainability objectives.

4. Strengthening Green Financing: Bank of Baroda's involvement underscores the growing focus on green financing in India's banking sector, supporting the country's transition towards a low-carbon economy.

Tata Power's Clean Energy Commitment

The MoU further reinforces Tata Power's commitment to clean energy:

• Tata Power Company Limited owns a diversified portfolio of 15.9 GW spanning the entire power value chain.
• 7.0 GW of this portfolio, constituting 44% of its total capacity, is dedicated to clean energy generation.
• The company has set an ambitious goal of achieving Net Zero by 2045.

This strategic partnership between TPREL and Bank of Baroda represents a significant step towards democratizing access to solar energy for businesses across India. By combining TPREL's expertise in renewable energy with Bank of Baroda's financial prowess, the initiative is poised to accelerate India's clean energy transition, particularly among MSMEs and C&I customers who form a crucial segment of the country's economy.

Tata Power Company Limited , through its subsidiary Tata Power Renewable Energy Limited (TPREL), has entered into a significant agreement with Suzlon Group for the supply of wind turbine generators with a combined capacity of 838 MW. This collaboration marks a major step forward in India's renewable energy sector and underscores TPREL's commitment to expanding its clean energy portfolio.

Key Highlights of the Partnership

• TPREL and Suzlon have signed a contract for 838 MW of wind turbine generators.
• The turbines will support TPREL's projects across multiple states in India.
• This marks the third strategic collaboration between TPREL and Suzlon, building on a partnership spanning over a decade.
• Suzlon will provide a comprehensive end-to-end solution for these projects.

TPREL's Growing Wind Energy Portfolio

TPREL has established itself as a key player in India's green energy landscape. The company's wind energy portfolio now exceeds 3.90 GW, with over 1.00 GW already operational. The remaining capacity is at various stages of development across seven states:

1. Rajasthan
2. Gujarat
3. Madhya Pradesh
4. Maharashtra
5. Andhra Pradesh
6. Karnataka
7. Tamil Nadu

Advancing India's Renewable Energy Goals

This partnership plays a crucial role in India's renewable energy transition, contributing to the country's ambitious target of reaching 500 GW of renewable energy capacity by 2030. It also aligns with Tata Power's overarching goal of achieving 100% clean energy by 2045.

Tata Power's Renewable Energy Expansion

The collaboration with Suzlon complements Tata Power's expanding renewable energy portfolio:

About Tata Power

Tata Power Company Limited, part of the Tata Group, is a leading integrated power company with a diversified portfolio of 15.80 GW. The company's operations span the entire power value chain, including:

• Renewable and conventional energy generation
• Transmission and distribution
• Trading and storage solutions
• Solar cell and module manufacturing

As a pioneer in India's clean energy transition, Tata Power has:

• 7.00 GW of clean energy generation (44% of total capacity)
• A commitment to achieving Net Zero by 2045
• Partnerships with public and private entities across India's power sector
• A customer base of approximately 13 million nationwide

This latest collaboration between TPREL and Suzlon demonstrates the ongoing commitment of both companies to accelerate the adoption of renewable energy in India and contribute to the country's sustainable energy future.