Tata Power Company Ltd’s shares rose more than 5% on Friday after the firm said that its subsidiary, Tata Power Solar Systems Limited, had partnered with Bank of India to provide easy financing for rooftop solar systems and to establish electric car charging stations.
The firm informed the bourses that Tata Power Solar has strengthened its position as a provider of green energy solutions and became the first solar company to work with the Bank of India for financing solar and EV charging stations.
With this partnership, Tata Power Solar will be able to help the government’s efforts to promote rooftop solar installations, which are targeted at a variety of customers, including housing societies, residential buildings under the PM Surya Ghar Yojana, and Micro, Small and Medium Enterprises (MSMEs), it stated.
As of 2:17 pm, Tata Power shares were trading 4.82 % higher at Rs 443.75.
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