State Bank of India (SBI) on Monday said it has entered into an agreement with Tata Power Solar Systems for financing of solar projects. The lender has also set up a dedicated centralized processing cell – ‘Surya Shakti Cell’, at 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 maximum capacity up to 1 MW. Loan applicants will include both business entities as well as households.