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Our Bureau

Kolkata , Feb. 15

SREI Renewable Energy Unit, promoted by Srei Infrastructure Finance, today launched, on a test basis, in Bangalore, its `Retail Finance Scheme for Solar Water Heating Systems'.

Under the scheme, a low subsidised interest rate is offered, to promote "accelerated development and deployment of solar water heating systems in domestic, industrial and commercial sectors".

According to Mr Hemant Kanoria, Vice-Chairman & Managing Director, Srei Infrastructure Finance, the company would finance up to 85 per cent of the system's cost. He said based on the response in Bangalore, the scheme would be introduced across southern India and subsequently in Pune and Delhi.

He said the introduction of such financing schemes by Srei was in line with the Group's commitment towards empowerment of the nation through usage of solar power and recognition of the fact that "India is potentially the largest single market for renewable energy in the world".

Mr Kanoria said Srei has already registered a presence through such schemes for promotion of renewable energy market in the country in Haryana, Jammu and Kashmir, Maharashtra and Uttaranchal, besides playing a key role in the electrification of Sunderbans (Bengal) and the Kargil regions.

More Stories on : Consumer Finance | Non-conventional Energy | Strategy | Karnataka

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