Financial Daily from THE HINDU group of publications
Thursday, Oct 07, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 07, 2004 |
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Industry & Economy
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Non-conventional Energy Srei loan schemes for solar systems in Bengal Our Bureau
Kolkata , Oct. 6 SREI Renewable Energy Unit Ltd (SREU), promoted by Srei Infrastructure Finance (formerly Srei International Finance), has launched easy financing schemes for solar home lighting systems in four districts of West Bengal. The schemes start with a monthly instalment of Rs 237, up to a maximum of Rs 1,019 per month for periods ranging from 18-60 months. These will initially be offered in East and West Midnapur, and North and South 24 Parganas. The company has already tied-up with original equipment manufacturers such as Tata BP Solar, BHEL and CEL for supply of equipment. Making the announcement, Mr Hemant Kanoria, Vice-Chairman and Managing Director of Srei Infrastructure Finance, said here that within four years of its inception, SREU has established itself as a premier energy financing company committed to the socio-economic development of rural India. He said the company has been instrumental in the growth of the renewable energy market in the country, including States such as Haryana, Jammu & Kashmir, Gujarat, Maharashtra and Uttaranchal, and has also played a key role in the electrification of the Sunderbans area. SREU has already disbursed Rs 47 crore in the last three years through the Photo Voltaic Global Environment Facility in Midnapur and the Sunderbans areas. Some Rs 50 crore will be disbursed during 2004-05, which will be scaled up by 25 per cent in 2005-06. Mr Kanoria said Srei has financed over 6,500 units of solar home lighting systems, 1,500 units of solar lanterns (Kargil in 2000-01), 500 units of solar heater pumps and 1,000 units of solar water heating systems across the country so far.
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