Thursday, February 20, 2014: The power-back up solutions provider, Su-Kam has reportedly announced that the company has formed a tie-up with the non-banking finance company, Shriram City Union Finance. The collaboration is to provide solar power systems as per a “pilot study” programme in the state of Tamil Nadu.
Su-Kam Power Systems released a public statement, saying that the “Su-Kam Power Systems has launched finance schemes for solar installations in residences to customers in Tamil Nadu. This move is aimed at making solar installations at residences affordable to customers by doing away with high initial cost of installation.”
Aimed to providing finance schemes to buyers, Su-Kam tied up with Shriram City Union Finance, for buyers who are interested to install the solar power systems under the Green EMI product scheme. This scheme gives customers an advantage to get a maximum of Rs 500,000 loan to set up the solar unit, at an interest rate of 5.5 per cent, per year. 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 month.
“The pilot study is aimed at making solar systems affordable and would be later extended to other parts of the country soon,” the statement further noted.
