India’s Solar Town to back rooftop PV ops with GREX funds

Indian rooftop photovoltaic (PV) system installer Solar Town Energy Solutions Pvt Ltd said it has raised early-stage funding from GREX and that it will soon be ready to close its Series A round of financing.

The Chennai-based company sells, leases and deploys solar arrays on the rooftops of residential, commercial and industrial customers. 

Solar Town will use the proceeds, the exact amount of which remained undisclosed, for its business expansion across the country.

The firm offers a zero-down lease for rooftop installations of less than 100 kW to residential and small commercial customers in India, according to the press release. The Solar Town Energy Solutions programme provides an up to 20-year fixed monthly lease option at a guaranteed cost that is lower than DISCOM rates amidst rising electricity prices.




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