Yes Bank Provides Sustainable Funding to Help MSMEs Install Solar
The lender stated it has also made strategic collaborations with solar panel manufacturers including Tata Power Solar Systems, Goldi Solar, Loom Solar, and Panasonic Solar Power System to support MSMEs transition to renewable energy solutions.
May 09, 2023. By EI News Network
The programme intends to assist the adoption of sustainable energy practices by small and mid-sized companies whereas also striving for cost efficiency by aiding them reduce their expenses towards power and fuel.
The lender stated it has also made strategic collaborations with solar panel manufacturers including Tata Power Solar Systems, Goldi Solar, Loom Solar, and Panasonic Solar Power System to support MSMEs transition to renewable energy solutions.
Dhavan Shah, Country Head – SME Banking, Yes Bank, discussed, Through the programme, Yes Bank “aim to bring hassle-free financial solutions that are focused at encouraging MSMEs to adopt solar energy-led best practices and help them achieve their sustainability goals by freeing up more funds for their business-related requirements,”.
The bank also further added that MSMEs will minimise their operational cost, obtain a flexible loan time period at competitive interest rates and end-to-end assistance from Yes Bank’s team through the whole cycle of planning to application.
As per the programmes’ details, a term loan of up to INR 3 crore for six years with a moratorium of six months will be granted for ground/rooftop mounted solar panel establishment for captive electricity utilisation of manufacturers.
The initiative is in the background of India’s G20 vision of attaining a target of over 50 percent of energy production from non-fossil fuel-based renewable sources by the year 2030.
please contact: contact@energetica-india.net.
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