Money & Banking

Mangalore Co-op Bank installs rooftop solar plant

Our Bureau Mangaluru | Updated on January 09, 2018

The 98-year-old Mangalore Cooperative Town Bank Ltd has installed a 15 kW rooftop solar power plant at its head office in Mangaluru.

Addressing presspersons here on Thursday, T Rathnakar Pai, Director of the bank, that the bank installed the solar power plant at a total cost of ₹12 lakh. The installation of the solar power plant would help the bank save around ₹1.55 lakh a year on its power bill. The plant generates around 1,800 units of power a month.

He said Mangalore Cooperative Town Bank Ltd is the first bank in the cooperative sector in Mangaluru taluk to install a rooftop solar power plant.

Kumble Narasimha Prabhu, Managing Director of the Mangaluru-based Solar Trade Link, said his company had installed the plant.

Stating that the total requirement of the bank’s head office premises is around 1600-1700 units a month, he said the excess power would be supplied to the grid.

Published on August 17, 2017

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