Tata Power and Canara Bank Partner for Affordable Rooftop Solar Financing
| Summary/Static | Details |
|---|---|
| Why in the news? | Tata Power and Canara Bank Partner for Rooftop Solar Loans |
| Partners | Tata Power Renewable Energy & Canara Bank |
| Loan Amounts | Up to Rs 2 lakh (3 kW capacity) and up to Rs 6 lakh (3-10 kW capacity) |
| Interest Rate | 7% per annum (up to 3 kW), 10% per annum (3-10 kW) |
| Margin | 10% for up to 3 kW, 20% for 3-10 kW |
| Repayment Period | 10 years |
| Collateral Requirement | None |
| Government Subsidy | 60% for systems up to 2 kW, 40% for systems between 2-3 kW (capped at 3 kW) |
| Tata Power's Total Renewable Capacity | 10.9 GW (5.4 GW operational, 5.5 GW under development) |
| Solar & Wind Capacity Breakdown | 4.4 GW solar, 1 GW wind |