Saturday, May 03, 2014: Power back-up solutions provider, Su-Kam Power Systems is all set to make an investment of Rs 600 million for installing solar rooftop systems on as many as 27,000 houses across the state of Tamil Nadu under its 2013-14 scheme. Su-Kam has already invested around Rs 300 million in setting up solar systems across 11,400 houses as of now.
Su-Kam plans to complete the installation of solar power systems on the rooftops of 12,700 houses by the end of May. “The installation of the phase starting from May is expected to be completed by November this year. The investment for the planned projects under the 2013-14 scheme would be doubled,” Ashish Sethi, vice president of solar projects, Su-Kam was quoted as saying by Business Standard. The solar rooftop systems are being set up as part of the chief minister’s solar-powered green house scheme, launched by the Tamil Nadu Energy Development Agency (TEDA). Under the scheme, these systems will be spread across seven districts of the state.
In a bid to provide finance to buyers, Su-Kam earlier tied up with Shriram City Union Finance, for the benefit of buyers who desire to install solar power systems under the Green EMI product scheme in Tamil Nadu. This scheme gives customers an advantage to get a maximum of Rs 500,000 loan to set up a solar unit, at an interest rate of 5.5 per cent, per annum. The loan will extend for 12 months on equated monthly installment (EMI), and an interest of 5.99 per cent per year will be levied for a period of 18 months.
