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V-Guard Inks MoU with ESAF Bank for Funding Rooftop Solar Systems

ESAF Small Finance Bank and electric equipment producer V-Guard Industries signed an MoU to facilitate financing alternatives to consumers looking to set up rooftop solar power systems.

March 01, 2023. By EI News Network

ESAF Small Finance Bank and electric equipment producer V-Guard Industries signed a MoU to facilitate financing alternatives to consumers looking to set up rooftop solar power systems.

Under the agreement, ESAF Bank will give many financing options, comprising loans and captivating instalment payment plans.

With this strategic association with ESAF Bank, consumers can select to fund up to 80 per cent of the overall cost of the rooftop solar power system, all inclusive of cost of installation for residential or commercial applications.

Hari Velloor, Executive VP, Business, ESAF Small Finance Bank, stated, “This partnership will enable us to provide financing options to customers looking to switch to clean energy and contribute to a greener tomorrow. At ESAF Bank, we believe that sustainable development is key to building a better future, and this collaboration is a step towards achieving that goal.”

V-Guard’s Rooftop Solar Systems bring with up to 40 per cent subsidy from the Ministry of New and Renewable Energy. The solar panels have maximum of 25-30 years of onsite warranty. Customers can go from an extensive range of components and models from 3- 15 KW depending on their requirements. Generally, a 1 KW plant can produce 4-5 units of electricity on a sunny day.

This partnership is displaying best way to turn to clean energy with ease and affordability. This collaboration will not only minimize the burden on customers to make a direct way of payment but also provide them to produce their own electricity, along with the minimization of dependence on the power grid.

Tags:

Business

V-Guard

ESAF Small Finance bank

Ministry of New and Renewable Energy

clean energy solutions

MoU

Rooftop solar systems

Solar panels