Union Minister of Micro, Small and Medium Enterprises (MSME) and the Minister for Road Transport & Highways Shri Nitin Gadkari has invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency.
Addressing a programme promoting awareness about rooftop solar (RTS) among MSMEs, Shri Gadkari said, “I believe there is a strong business case for MSMEs to install rooftop solar and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops.”
The MSME sector, through SBI’s current rooftop solar (RTS) lending portfolio can leverage concessional debt and fulfil India’s ambitious target for large scale implementation of rooftop solar. The World Bank is working with the Ministry of Micro, Small & Medium Enterprises, to bring in a credit guarantee mechanism catering to lending to MSMEs who would like to reduce their energy expenses in the long term by investing in rooftop solar.
