8AUGUST 2024TATA POWER SOLAR SYSTEMS & BOI PARTNER FOR EV CHARGING STATIONRELIANCE SECURES APPROVAL FROM USA TO RESUME OIL TRADE WITH VENEZUELATPSSL has announced a collaboration with BOI to make it simpler to finance rooftop solar installations and set up EV charging stations. The collaboration marks an important achievement for Tata Power Solar, as they are the first solar company to partner with BOI for financing solar and EV Charging Stations, further solidifying their position as a leader in green energy solutions, according to a statement.This partnership aligns with the government's efforts to encourage rooftop solar setups for various types of customers, such as residential users under PM Surya Ghar Yojana, housing societies, and MSMEs.Residential customers can get loans up to Rs 2 lakh with just a 5 per cent margin money requirement for installing solar systems up to 3 KW under the PM Surya Ghar Yojana.These loans come with a competitive annual interest rate of 7.10 percent, require no collateral, and can be repaid over a period of up to 10 years. Loans of up to Rs 6 lakh can be obtained with a 5 percent margin money requirement for installations ranging from over 3 KW to 10 KW.These loans have interest rates varying from 8.3 per cent to 10.25 per cent annually, and they do not require collateral, with a maximum duration of 10 years. Registered housing societies and residential welfare associations are eligible for loans up to Rs 1 crore with a 10 percent margin money stipulation. Reliance Industries has secured US approval to resume importing oil from Venezuela despite White House sanctions on the country, according to people familiar with the development. India's largest privately owned refiner plans to start purchasing Venezuelan crude soon, with Reliance having accounted for around 90 percent of India's crude imports from Venezuela after sanctions were lifted last year, based on data from Kpler, a data intelligence firm.The US Treasury and Reliance Industries have not publicly commented on this development. Washington temporarily removed restrictions on Venezuela's gold and oil sectors last year to support a deal for free and fair elections signed by President Nicolas Maduro and the opposition. However, sanctions were reinstated in April after Venezuela failed to honor the agreement. Since then, oil companies have been applying for permits from the US Treasury Department to continue their operations in Venezuela.Venezuela's crude exports increased to 654,000 barrels a day in June, the highest since April 2020, following a specific license granted by the US for continued drilling despite the sanctions. Besides Reliance, India's state-owned Oil and Natural Gas Corp.'s overseas investment arm, ONGC Videsh has also applied for waivers to import crude from Venezuela. TOPSTORIES
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