State Bank of India (SBI) and Tata Solar Systems Ltd., a unit of Tata Power for solar power projects, have tied up to launch a special loan processing establishment in Mumbai’s Ballard Estate. This facility, named ‘Surya Shakti Cell’, will be wholly dedicated to streamlining loan disbursal process of solar projects of upto 1 MW capacity in India, as stated in Tata Power’s media release on 31st January, 2022.
SBI will offer an end-to-end digital platform to optimise the entire process for loan applicants. The services of this tie-up can be availed by business entities as well as by households. The ‘Surya Shakti Cell’ will also process loan applications for projects coming through Tata Solar.
Tata Solar will also help and guide applicants in selecting most suitable solar equipments for their needs, and provide them with doorstep technical assistance. SBI will be working towards expediting approval of their loan applications at competitive rates.