Return to: Finance NewsCapri Loans Launches Solar Finance to Drive Accessible Solar Adoption in IndiaIndia, November 5, 2024 — Capri Loans, a leading non-banking financial company in India, has launched its newest financing solution, Capri Solar Finance, designed to make solar energy installations accessible and affordable across the country. The launch supports India’s National Solar Mission, aiming to make the transition to sustainable energy seamless and inclusive for homeowners, commercial establishments, MSMEs, and factories. Expanding Solar Access with Capri Solar Finance Capri Solar Finance offers a hassle-free financing process to support the adoption of solar energy solutions. This product is tailored to meet the growing demand for renewable energy by eliminating barriers to solar financing, including the need for collateral, and by providing a rapid loan approval and disbursement experience. Through these features, Capri Loans aims to drive solar adoption and support India’s green energy goals. Key Benefits of Capri Solar Finance No-Collateral Loans with Quick Approval and Disbursement Capri Solar Finance provides customers with no-collateral loans, simplifying the financing process and reducing the traditional hurdles associated with loan applications. With minimal documentation required, the loan approval process takes under five minutes, while disbursements are completed within 4-6 hours, allowing customers to commence their solar projects without delay. Flexible Financing Options The financing solution accommodates a wide range of project sizes, offering loan amounts from INR 50,000 to INR 25,00,000. This flexibility supports both small residential installations and larger commercial or industrial solar projects. Repayment terms are flexible, with options extending up to five years for new customers and six years for existing Capri Loans customers, ensuring manageable payment structures. Comprehensive Coverage for Solar Projects Capri Solar Finance covers all essential components required for solar installations, including solar panels, inverters, batteries, installation, and other necessary equipment. Additionally, the product incorporates government subsidies, helping to make solar energy even more financially accessible. Customers can take advantage of central and state solar incentives, such as the PM Surya Ghar Yojana, further reducing installation costs. Strategic Partnership with Credit Fair to Enhance Digital Accessibility Capri Loans has partnered with Credit Fair, a renewable energy fintech company, to ensure a seamless and fully digital loan application process. Through this partnership, customers across India, including those in Tier 2, 3, and 4 cities, can easily access Capri Solar Finance online. This collaboration also supports a broader ecosystem of solar providers by connecting customers with verified solar panel manufacturers and EPC (Engineering, Procurement, and Construction) installers. Credit Fair’s digital platform is instrumental in reaching underserved markets, where solar adoption is both financially and environmentally beneficial. The partnership aims to expand solar access, making renewable energy a viable option for households and businesses alike. Supporting India’s National Solar Mission Capri Loans is dedicated to advancing India’s solar objectives by contributing to the National Solar Mission’s aim of increasing residential rooftop solar capacity. Through the Capri Solar Finance initiative, the company is supporting India’s goal of a sustainable energy future, addressing the needs of diverse customers across various income levels. Initial Focus Regions and Future Expansion Plans The rollout of Capri Solar Finance is being phased to focus on key regions initially, beginning with Rajasthan, Madhya Pradesh, and Gujarat. By year-end, Capri Loans plans to extend its offerings to Delhi, Maharashtra, Uttar Pradesh, and Uttarakhand. This phased approach ensures structured growth, allowing Capri Loans to meet the needs of local customers effectively and provide dedicated regional support. Projected Market Impact Loan Book Growth and Contribution to Solar Capacity Capri Loans has set an ambitious target to grow its loan book to INR 1,000 crore in the coming years. This commitment demonstrates the company’s focus on the rooftop solar market, projected to reach an installed base of 34.99 gigawatts by 2029. By empowering more individuals and businesses to invest in solar energy, Capri Loans is positioned to be a significant contributor to India’s solar capacity expansion. Enabling Sustainable Energy for MSMEs and Underserved Markets Capri Solar Finance is particularly impactful for MSMEs and underserved markets that have historically faced barriers to green energy financing. By removing obstacles and offering competitive rates, Capri Loans fosters a more inclusive financial environment for clean energy projects. Through this initiative, Capri Loans is promoting financial inclusion in renewable energy, allowing diverse groups to contribute to and benefit from India’s shift toward sustainable energy. Contact Information For more information on Capri Solar Finance and how to apply, customers can reach Capri Loans at: Phone Number: 1800-102-1021 Website: Visit Capri Loans Capri Loans invites individuals and businesses to join India’s solar revolution, enabling them to lower their energy costs while contributing to a sustainable fut ... News Release: Capri Loans Launches Solar Finance to Drive Accessible Solar Adoption in India Submitted on: November 05, 2024 06:07:12 AM Submitted by: Capri Loans On behalf of: exactrelease.com |