Finance solar projects
Aiming to strengthen the existing financing arrangement for solar power projects, State Bank of India (SBI) has launched a dedicated centralized processing cell – ‘Surya Shakti Cell’. The Bank has joined hands with Tata Power Solar Systems Ltd. (a Tata Power Company) for financing solar projects.
The Surya Shakti Cell will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities as well as households. Itl was inaugurated by Dinesh Khara, Chairman, SBI in the presence of Dr. Praveer Sinha, CEO & MD, Tata Power Company Ltd.
SBI aims to provide an end-to-end platform for digital and hassle-free journey to the loan applicants for financing Solar projects. SBI will offer a complete solution at competitive rates for Solar projects with this initiative. Apart from this, the entire ecosystem has been thoughtfully set up to ensure that the customers get all necessary support and guidance to choose the right equipment, resolve technical issues at their door steps and get expeditious approvals of their loans at competitive rates.
Green future
Dinesh Khara, Chairman, SBI said, “We are very happy to partner with Tata Power Solar Systems Ltd in this initiative, which is in line with the global objectives of the COP26 Agreement in reducing the carbon footprint. We believe, with sustainable solar power, we can solve the prevailing challenges related to use of conventional energy as well as climate change. Initiatives like these will also help build local economies and enable the country to move towards a secure energy future. We, at SBI, are strong proponents of renewable energy and are committed towards reducing carbon footprint in the country.”
Dr Praveer Sinha, CEO & MD, Tata Power said, “This first of its kind association will aid us in our #DoGreen mission by encouraging our customers to embrace solar energy solutions and join us in co-creating a greener future.”
