Gadkari to MSMEs: Switch to solar MSMEs to avail concessional debt finance to install rooftop solar

Union Minister of Micro, Small and Medium Enterprises (MSME) and the Minister for Road Transport & Highways Shri Nitin Gadkari has invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency. He said, Rooftop Solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost and it contributes in economic recovery as it employs more people than any other renewable energy.
The World Bank – SBI’s $625 million has supported India’s significant Rooftop Solar roll out. The MSME sector, through SBI’s current rooftop solar (RTS) lending portfolio can leverage concessional debt and fulfill India’s ambitious target for large scale implementation of rooftop solar. “I believe there is a strong business case for MSMEs to install rooftop solar and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops,” said Nitin Gadkari.