Satin Creditcare Network Limited (“SCNL”), the second largest microfinance company in the country, has been leveraging its strong presence at the grassroot level to provide affordable and quality solar solutions to low-income households in remote parts of the country.
SCNL has recently entered into strategic partnerships with global leaders in solar energy such as Greenlight Planet, TWP and d.light to make their solar powered products available, with easy loans across its branches in Assam, Bihar, Rajasthan, Haryana and Punjab. This will enable over 1 million clients of SCNL to access these products and improve their quality of life.
As a part of SCNL’s partnership with d.light in Bihar, 561957clients across Muzzafarpur, Begusarai, Chapra, Gaya and Patna districts can finance either of the two products i.e., S550 and D333 at SCNL’s local branches. S550 is a unique, fast charging solar lantern with high luminescence. It can also be used for charging mobile phones. The product is portable, easy to use, and comes with four brightness settings. D333 is a solar home system to provide light in multiple rooms of a house through a single battery and solar panel. It comes with two tube lights and one bulb controlled via wall switches. It has two brightness settings and mobile phone charging capacity as well. Both the products deliver electricity with no recurring cost through a solar panel. Both S550 and D333 come with 2 years of warranty. SCNL and d.light are already working together in Orissa, Assam and Jharkhand to provide similar solutions to over 3,86,546 clients.
In Rajasthan, Haryana and Punjab, SCNL’s 4,97,835 clients can avail ‘Sun KingTM Boom’, a solar-powered lantern by Greenlight Planet. It also has a built-in radio, MP3 player, and USB port for mobile charging by Greenlight Planet. With 2-year warranty, this product addresses the growing aspirations and demand for lighting, mobile-charging and entertainment amongst the rural consumers.
Speaking about the initiative, Mr. Dev Verma, Chief Operating Officer, Satin Creditcare Network Limited said, “India has a large un-electrified population. Community-based solar solutions are extremely important to address this challenge. Our strong presence at the grassroot level, coupled with affordable solar lighting product range from our partners, will allow us to have a model, with focus on improving quality of life for our clients.”
He further added, “Our endeavour is in line with Government of India’s vision to ensure ‘Power for All.' It will not only provide access to clean energy, but also an opportunity to bridge the massive infrastructure gap, improve the social, economic, environmental and health indicators of the rural population in the country.”
As per the Government data, about 31 million homes in India are still in the dark. The most un-electrified parts of the country include Assam, Bihar, Jharkhand, Odisha, Madhya Pradesh, and Rajasthan, each with about 6 million unconnected households.
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