Tata Power Solar, a subsidiary of Tata Power, on Monday launched its residential rooftop solution in Mumbai, a few days after the firm had launched its services in Delhi. The company is looking at pan-India launches of its rooftop solutions with the next launches likely to be in cities like Ajmer and Pune. The launch in Ajmer is likely to be in the first week of October. The company claims that the residential rooftop solution can help a customer save Rs 50,000 annually for 25 years.
Speaking at a press meet, Praveer Sinha, CEO and MD at Tata Power, said that the company has tied up with Tata Capital for helping their customers with financing options for the rooftop solutions. “Tata Capital will be supporting all our consumers with financing. There are various options as far as the tenure is concerned and the interest rates are also attractive,” he said.
About the competition in the rooftop space, Sinha pointed out that the company’s brand name as well as its services will help the firm.
“Tata Power Solar, with the Tata brand name, and the ability to not only provide the solar panels but also maintain it for five years or seven years, is the unique thing that we are bringing. Being a Tata name, the commitment level is much higher unlike many small players,” Sinha asserted.
Sinha also indicated that although there are other larger players in the space, the market is huge enough. “Expecting that Tata Power Solar will only get a 100% share will not be correct. From our side, we will give the best services and try to get the maximum market share,” he said. A few weeks earlier, Tata Power Solar had commissioned a 820.8 kWp roof mounted solar plant at the Cricket Club of India (CCI) stadium in Mumbai.