Overview
Detailed information
Energy Globe Award
UN21 Award
The aim of the
project was to develop a credit facility specifically targeted at financing
photovoltaic solar home systems (SHS) in the southern Indian state
Karnataka.
Instead of the traditional capital cost
subsidies, the project bought-down the cost of financing SHS at the retail
level thus reducing the effective interest rate on loans taken by the
customers.
Funded primarily by the
United Nations Foundation (UNF),
the project is a partnership between UNEP, URC, and two of Indias major
banking groups with a reputation for innovative financial products - the
Syndicate Bank and the Canara Bank.
Reference sheet (Intranet)
