Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Tata Power Renewable Energy and UCO Bank Join Forces to Boost Residential Rooftop Solar Financing Across India

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power Company, has signed a Memorandum of Understanding (MoU) with UCO Bank to expand the adoption of residential rooftop solar solutions nationwide. The partnership aims to accelerate India’s shift toward clean and sustainable energy by making rooftop solar more accessible and financially viable for households.

According to the company statement, the collaboration focuses on offering consumer-friendly financing options aligned with the Government of India’s PM Surya Ghar: Muft Bijli Yojana, a flagship program promoting decentralized solar power for homes.

As part of the agreement, UCO Bank will provide loans to salaried and self-employed individuals for installing rooftop solar systems under its UCO Suryodaya Scheme. Customers can borrow up to Rs 2 lakh at a 6% reducing interest rate for a period of up to 10 years, with a 10% margin requirement.

For larger systems costing between Rs 2–6 lakh, the bank will finance up to 80% of the project value. Interest rates begin at 7.40% for home loan customers and 8.40% for non-home loan customers. The scheme also offers additional advantages such as zero processing fees and no documentation charges, making the shift to solar more affordable.

As of October 2025, TPREL has completed over 3 lakh rooftop solar installations, representing a cumulative installation base of 3.9 GW. UCO Bank, through its green financing initiatives, has already supported around 10,000 rooftop solar applications.

In the commercial and industrial (C&I) space, TPREL serves clients across multiple sectors including hospitality, automotive, aviation, education, HVAC, chemicals, steel, electronics, and textiles.

TPREL ensures a wide range of benefits for its rooftop customers—such as 25-year module warranties, quality assurance, lifetime service and after-sales support, flexible financing options, and dedicated insurance coverage for solar systems.

The company also plans to significantly expand its market presence by scaling up its partner ecosystem from the existing 600 channel partners to 5,000 partners and retailers, thereby strengthening its push for nationwide rooftop solar adoption.