News

Incubation centre set up for inclusive sustainable energy financing at Dharwad

Anil Urs Bengaluru | Updated on November 02, 2019 Published on November 02, 2019

SKDRDP-SELCO Foundation would jointly set up an 'International Incubation Centre for Inclusive Sustainable Energy Financing' at Dharwad.

SKDRDP, with decades of experience on providing finance to under-served population in South India and with a portfolio of more than Rs 6,000 crore, along with SELCO’s experience on building sustainable energy solutions for the poor is a strong partnership for setting up an incubation centre.

The Incubation Centrewill focus on mentoring the NGOs, MFIs, CSR Institutions, banks and government institutions. It also proposes to handhold institutions for achieving the objective of financial and energy inclusion for all.

Dr. Harish Hande, CEO, SELCO Foundation said “Total lending quantum for solar home lighting systems was Rs 150 crore, for total lending quantum for solar livelihood systems Rs four crore and total lending quantum for solar water heating systems Rs 10 crore.

“Over the last two decades there have been a spurt of micro-finance institutions in India, South-East Asia, Latin America and some of the countries in Africa. But many of them, in the effort to scale, could not create the appropriate financial products for last mile sustainable energy access that could lead to asset ownership or appropriate livelihoods for the poor. There are still vast areas of the world where financial services of any form have not yet reached,” said Dr Hande.

“Thus, the joint proposal by SKDRDP-SELCO Foundation to establish an Incubation Centre based out of Dharwad, North Karnataka,” he added.

The Incubation Centre plans to attractpersonnel across African and South Asian countries to set up new financial institutions or new verticals for existing financial institutions - specifically for last mile financial services for inclusive sustainable energy solutions.

Dr. L.H Manjunath, Executive Director, SKDRDP Trust said “Shri Kshethra Dharmasthala Rural Development Project has adopted innovative approaches to SHG and Business Correspondent model to provide access to finance to the poor in an organised manner. In the process it has developed several methodologies and technologies.”

He added “In the energy sector, the SELCO foundation has been promoting innovative ideas over the last two decades. The efforts of SELCO foundation to capture alternative energies, more specially solar, has given opportunities to the vulnerable community for taking up micro enterprises

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on November 02, 2019
This article is closed for comments.
Please Email the Editor