WAAREE to finance projects through SBI Scheme
WAAREE, India’s largest Solar Panel manufacturer, intends deploy over Rs.500 crore of a credit line through SBI’s Surya Shakti Solar Finance Scheme and provide a digital platform for hassle-free journey to loan applicants for financing solar projects.
WAAREE has entered into an Agreement with SBI for availing unsecured financing for solar projects through Surya Shakti Solar Finance Scheme and providing working capital for Channel Partners under EDFS (Electronic dealer finance scheme).
WAAREE enjoys the largest footprint across India through its Channel partner network, which caters to the customer base in the remotest corner of the country.
This unsecured financing facility shall be extensively used by Commercial Institutions, Industries, Resorts, Hotels, Manufacturing Units, Warehouses for adopting solar as their new energy source.
“Hence boosting solar penetration across India, aiding our country’s energy security and accelerating decarbonization of power,” WAAREE said on 7 Sept 2022.
“The entire ecosystem has been set up to ensure that the customers get all necessary support and guidance to choose the right equipment, resolve technical issues at their doorsteps, and expedite approvals of loans.”
WAAREE has a distinction by becoming the only manufacturer in India to get a 650Wp Solar panel listed in Approved List of Models and Manufacturers. WAAREE’s state-of-the-Art panel manufacturing facilities are equipped to manufacture panels above 540 Wp, thus catering to the demand for quality, high-efficiency solar panels.
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home-buying dreams of 30 lakh Indian families. fiinews.com
