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Detailed Information on India - SREI International FinanceThis project encompasses the development of retail and service network and the provision of consumer finance for the sale of solar home lighting systems and portable PV power packs in the state of West Bengal in India. SREI is a well-established financial services company primarily engaged in leasing and hire purchase of heavy construction, mining equipments, imported and indigenous plant & machinery and financing of infrastructure projects like Power, Ports, and Roads & Urban Infrastructure and with a dedicated renewable energy unit to focus on opportunities in the renewable energy sector. For implementation of the project, SREI has entered into an agreement with Environ Energy Tech Services (EETS) the leading SHS integrator in West Bengal. EETS has established a successful dealer network. Its ties with local cooperative bodies and self help groups has enabled EETS to reach out far and wide to rural customers. With its organizational support, potential customers are identified and SPV systems are financed by SREI. PVMTI InvestmentPVMTI has committed US$ 3.5 million in loans, guarantees and grant in support of the project. Loan funds are being used to co-finance the creation of infrastructure facilities, including trained manpower and the guarantee facility has reduced the risk to SREI of entering this market by sharing the risk of end-user default. Sponsor CommentsSolar Photovoltaic Lighting Systems have a strong business potential in rural areas of West Bengal, including the Sunderbans. Awareness of the benefits of PV home systems among the rural people is quite high in these areas. Current StatusThe project was launched in May, 2001. There were some challenges in the early years but sales are now regular and as of December 1, 2006, EETS had installed 16,200 systems with a generating capacity of approx. 956 kWp. Recently sales have been expanded to the neighboring states of Bihar and Jharkhand for solar home systems. SREI has also moved into other solar products such as thermal systems and has tied up with manufactures of international repute. ContactsMudit Gupta Ph: +91 33 30212100 Ext 3424 |
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