NEW DELHI: Tata Power on Tuesday announced its partnership with SIDBI to provide a finance scheme to the MSME players in the rooftop solar segment.
Tata Power said easy financing has been one of the barriers for penetration of solar in the MSME sector. "In order to address this challenge, Tata Power has partnered with Small Industries Development Bank of India (SIDBI) to provide easy financing scheme for MSME customers in rooftop solar segment," it said.
Tata Power and SIDBI have joined hands to design a solar financing solution to help MSME players with financial aid without any collateral at an interest of less than 10 per cent. The scheme will also be complimented with a sanction time of seven days and disbursal of money in four days, the statement said.