Categories: Agreements

SBI tie-up with Tata Power for financing solar projects

State Bank of India (SBI) has launched a dedicated centralized processing cell named ‘Surya Shakti Cell’ with the objective of strengthening the existing financing arrangement for solar power projects. SBI has collaborated with Tata Power Solar Systems Ltd. (a Tata Power Company) for financing solar power projects.

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The cell has been set up in the Ballard Estate in Mumbai. The Surya Shakti Cell will process all the loan applications for Solar Projects from across India by Tata Power Solar Systems Ltd., with a maximum capacity of up to 1 MW. Loan applicants will include both business entities as well as households. The bank aims to provide an end-to-end platform for digital and hassle-free journeys to loan applicants for financing solar projects. With this digital initiative, SBI will offer a complete solution at competitive rates for solar projects.

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Tata Power Solar Systems Ltd. Headquarters: Mumbai;
Tata Power Solar Systems Ltd. Founded: 1989.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.