Tata Power Solar and SIDBI Collaborate to Offer Zero Processing Fee Financing for MSMEs

13 Sep 2023 , 11:02 AM

Tata Power Solar Systems Limited (TPSSL) and the Small Industries Development Bank of India (SIDBI) have entered into a memorandum of understanding (MoU) to provide simplified financing options for MSMEs.

Under the partnership, TPSSL and SIDBI have introduced ‘The Big Solar Fest,’ offering tailored and innovative financing solutions for solar loans with zero processing fees. This initiative aims to raise awareness about highly competitive financing options with no processing fees for the upcoming festival season. This added incentive is expected to accelerate the MSME sector’s transition to green energy, reaffirming its commitment to sustainable growth and clean energy solutions.

Following the signing of the MoU with SIDBI on September 12, shares of Tata Power saw a nearly 1 percent increase in early trading on September 13. At 9:17 am, Tata Power’s stock was trading 0.82 percent higher at Rs 265.10 on the National Stock Exchange (NSE).