Friday, October 11, 2013: It is a known fact that solar power plant is a huge investment. This is what make many put off their plan of buying solar powered products. But making this investment easy, Borg Energy has collaborated with Shriram City Union Finance and Bajaj Finserv Lending to help customers buy the company’s micro solar power plant as part of a solar finance scheme.
As per the finance scheme being offered by Shriram, those interested can avail a maximum of Rs 5,00,000 at an interest of 5.5 per cent per annum for a 12 month EMI scheme and an interest of 5.99 per cent per annum for an 18 month EMI scheme. On the other hand, Bajaj Finserv is extending a maximum loan of Rs 4,50,000 at an interest rate of 6.5 per cent per annum for a 12 month EMI scheme, reports TOI.
Commenting on the offer, R Sivakumar, chief operating officer, Borg Energy said, “While banks and other financial institutions provide loans for purchase of cars and bikes, they should also include easy consumer finance options for the green energy sector under their priority loan scheme.”
Borg had launched its Astra micro solar power plant in the beginning of the year in the south and has sold 1,500 units in Tamil Nadu so far. And they plan to sell 25,000 more units this year.