Freyr Energy ties up with Axis Bank

Solar energy services company Freyr Energy has tied up with Axis Bank to offer term loans ranging from ₹5 lakh to ₹50 lakh for tenures up to five years,for solar rooftop installations in Telangana and Andhra Pradesh.

The loans will be given to MSMEs and self-employed individuals to install Freyr rooftop solar plants for industrial and commercial purposes.

Saurabh Marda, co-founder and Managing Director, Freyr Energy, said in a statement: “This loan programme will help MSMEs significantly reduce their electricity bills. Going forward, we will continue to work on innovative financial instruments to improve affordability.”

The Freyr SunPro app is said to eliminate the complexity involved in system design, pricing and generation.

Over the past three years, Freyr has installed over 800 solar systems across 14 States in India and Ghana.