avail loan to install solar system now by corporation bank now | bengaluru news - times of india - solar street light manufacturer
Bangalore: the company bank will now give micro
Financing for the installation of solar home systems, lighting, street light systems and solar power plants in southern states is provided that it is manufactured by "solid Solar", a sister organization of Gotham polymer.
On Sunday, the bank signed a memorandum of understanding with solid Solar to improve
Renewable energy sector.
Solar equipment manufacturers will use bank's vast branch network in all five Southern states to provide easy financing for solar systems, it will also allow the bank to expand its financial support to more customers.
Shubhra Mohanka, director of Solid Solar, said that contrary to the large MW Solar power plant, innovative, low maintenance is required and can be used for cost-effective, durable Solar solutions for residential, store or other small businesses.
Corporate Bank's easy financing program for residential and commercial customers will significantly reduce upfront spendingof -
Make the benefits of the solar system a realistic pocket cost.
Thanks to this plan offered by corporate banks, consumers can now look forward to buying solar products at affordable prices and, to a large extent, reducing their dependence on fossil fuels.
At Corporation Bank, we have been thinking about launching new products that not only expand our reach of credit, but also promote the long-term goals of our sustainable lives.
This new venture gives us the opportunity to explore new customers not only for our existing customers, but also in the off-grid area through a simple financing plan.
We are confident that this move will certainly drive solar energy for residential and commercial needs, given the severe shortage of traditional electricity in these areas, "said S Pattabiraman, General Manager, Corporate Bank
Solid Solar has partnered with NABARD to finance its system through regional rural banks.
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