Tata Power Solar Systems Ltd has renewed its three-year agreement with Union Bank of India, offering collateral-free financing options for both residential commercial and industrial segments.

The company has extended loan limits for residential and commercial customers, offering up to Rs 15 lakh and Rs 16 crore respectively, and extended loan tenure to 10 years, making solar energy more accessible.

The access to easy financing will mainstream the roof-top solar adoption among the residential segment in the country and replicate the success of the C&I segment, Deepesh Nanda, CEO & Managing Director, Tata Power Renewable Energy Ltd (TPREL), said.