Capri Global Capital Ltd (Capri Loans), a prominent non-banking financial company, has introduced its Rooftop Solar Finance product tailored for micro, small, and medium enterprises (MSMEs). This initiative aims to enable individuals and businesses to leverage solar energy for self-use, contributing to a more sustainable future.
The new financing solution promises a seamless experience, requiring no collateral and minimal documentation. Loan approvals can be completed in under five minutes, with disbursals occurring within 4-6 hours. Capri Global has collaborated with Credit Fair, a renewable energy fintech, to facilitate a digital onboarding process for customers, offering loans ranging from ₹50,000 to ₹25,00,000 at competitive interest rates. This financing covers the entire cost of solar modules, inverters, batteries, and installation, presenting a comprehensive option for self-use solar projects.
Emphasizing the company’s commitment to the government’s National Solar Mission, which aims to enhance residential rooftop solar capacity by 2027, Mr. Amar Rajpurohit, Chief Business Officer (MSME Loans) of Capri Global Capital Ltd, stated, “We are keen to be one of the early bird NBFCs in the space of rooftop solar finance. Given that the India Rooftop Solar Market is expected to reach 34.99 gigawatts in installed capacity by 2029, we feel well positioned to ride the tailwinds of the sector. Capri Solar Finance aims to achieve a loan book size of ₹1,000 crore in the coming years.”
The first phase of the rollout will target Rajasthan, Madhya Pradesh, and Gujarat, with plans to expand into Delhi, Maharashtra, Uttar Pradesh, and Uttarakhand by the end of the year.
Regarding the partnership with Credit Fair, Rajpurohit explained, “We are building an ecosystem with India’s major solar panel manufacturers and EPC installers to further accelerate our mission. Credit Fair’s digital platform will drive widespread adoption of solar energy and empower households and businesses in Tier 2, 3, and 4 cities to generate their own electricity, while contributing to India’s solar energy goals. Vendors listed with Credit Fair will be able to benefit from Capri Solar Finance credit, making the transition to solar power simple, accessible, and hassle-free for our customers.”
Capri Solar Finance offers flexible repayment options, with a loan tenure of up to five years for new customers and six years for existing customers of Capri Loans. This product is available for homeowners, commercial establishments, salaried individuals, MSMEs, and factories looking to install solar solutions.
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