Oakridge offers payment plans for the residential home owners for installation of solar rooftop systems and easy repayment facility over a period of 3-5 years
Oakridge Energy, a residential rooftop solar firm in India, has received a first line of credit (LoC) from Manaveeya Development and Finance – the Indian subsidiary of Oikocredit the Dutch social impact investor.It will use the funds to finance a pilot of residential solar rooftop installations.
Oikocredit is one of the leading social impact investors in the world, having overall assets of around 1.3 billion euros. The investor has more than 693 partners and has presence in around 13 countries.
Growing market
Shravan Sampath, CEO, Oakridge Energy said that Residential solar rooftop is a fast-growing sector with an aggregate addressable demand of over 5000 MW over the next five years. There are not many players who have a presence in this market.Oakridge, with its extensive experience in the residential market, standardised mounting structures and implementation process, is growing to capture this market. Oakridge is pleased to obtain this line of credit from Manaveeya.
As per the company source,Oakridge would provide payment plans for the residential home owners for installation of solar rooftop systems and offer easy repayment facility over a period of 3-5 years.
Huge potential
Gouri Sankar, Managing Director, Maanaveeya, said that under the renewable energy segment, they focus on funding access to energy companies and see huge potential in the roof top segment. They found a like-minded partner in Oakridge and glad to partner with Oakridge for piloting a rooftop project and based on the learnings, we expect to do more such deals in the Solar Roof Top space.
Besides, the company would also install rooftops solar panels on the residential societies by the government of Delhi under the World Bank’s SUPRABHA Technical Assistance Programme
