Capri Global Capital Ltd, a prominent non-banking financial company (NBFC), has announced the launch of its innovative Rooftop Solar Finance product under the MSME Loans segment. This move is designed to enable individuals, small and medium enterprises, and commercial establishments to adopt solar energy solutions for self-use, contributing to a more sustainable and eco-friendly future. With this offering, Capri Global aims to support the Indian government’s ambitious solar energy goals while also making solar power more accessible and affordable.
Capri Global Comprehensive Solar Financing Solution
Capri Global’s new Rooftop Solar Finance product offers a hassle-free financing option for those looking to install solar panels and related equipment. One of the standout features of this product is the absence of collateral and minimal documentation, making the entire loan application process swift and user-friendly. This quick turnaround is a major advantage for businesses and individuals who want to transition to solar energy without delays.
The loan amounts available range from ₹50,000 to ₹25,00,000, covering the full spectrum of solar power needs, including solar modules, inverters, batteries, and installation costs. This makes the product an all-inclusive solution for homeowners, commercial businesses, and factories aiming to switch to solar power.
Capri Global has partnered with Credit Fair, a fintech company specializing in renewable energy, to digitize the loan onboarding process. This partnership enhances access to credit and offers a seamless, digital experience for customers. The collaboration with Credit Fair ensures that individuals and businesses can easily apply for loans and receive funds to cover the costs of their solar projects.
Supporting the National Solar Mission
India has set ambitious targets under its National Solar Mission, aiming to significantly boost the country’s rooftop solar capacity by 2027. Capri Global Capital Ltd’s Rooftop Solar Finance product aligns with this vision by making solar energy accessible to a wider audience, particularly those in smaller towns and cities.
Amar Rajpurohit, Chief Business Officer (CBO) of MSME Loans at Capri Global Capital Ltd, emphasized the company’s commitment to supporting the government’s solar initiatives. He stated, “We are keen to be one of the early bird NBFCs in the space of rooftop solar finance.
Capri Global has ambitious plans for its solar finance product, with an initial rollout focused on key states like Rajasthan, Madhya Pradesh, and Gujarat. The company plans to expand the offering to other states, including Delhi, Maharashtra, Uttar Pradesh, and Uttarakhand, by the end of the year. Rajpurohit also mentioned that the company aims to grow its loan book size for solar finance to ₹1,000 crore in the coming years, reflecting Capri Global’s long-term commitment to the sector.
Partnering for a Sustainable Ecosystem
One of the key components of Capri Global’s Rooftop Solar Finance offering is its collaboration with Credit Fair, a fintech firm with expertise in renewable energy financing. By leveraging Credit Fair’s digital platform, Capri Global is building an ecosystem that includes major solar panel manufacturers and engineering, procurement, and construction (EPC) installers.
Rajpurohit highlighted the significance of this partnership, saying, “Credit Fair’s digital platform would 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.”
The partnership also offers additional benefits for vendors listed with Credit Fair, allowing them to avail the credit benefits provided by Capri Solar Finance. This ensures that all stakeholders in the solar energy value chain can benefit from the financial support and streamlined processes provided by Capri Global and Credit Fair.
Flexible Repayment Options for Diverse Customers
The product offers flexible repayment terms, with a tenure of up to five years for new customers and up to six years for existing customers of Capri Loans. This flexibility allows businesses and individuals to adopt solar energy solutions without facing financial strain.
The finance product also comes at competitive interest rates, making it an attractive option for those looking to transition to solar power without incurring high costs. By covering the entire cost of solar installations, Capri Global ensures that more people can benefit from clean, renewable energy and contribute to a greener environment.
A Step Forward in India’s Solar Energy Journey
Capri Global Capital Ltd’s Rooftop Solar Finance product represents a significant step forward in India’s transition to clean energy. By offering easy access to solar financing, the company is not only supporting the government’s solar energy goals but also making it easier for businesses and individuals to contribute to a more sustainable future.
As the demand for renewable energy continues to grow, Capri Global is well-positioned to become a key player in the rooftop solar finance market. With its strong partnerships, customer-centric approach, and commitment to sustainability, the company is poised to help drive India’s solar revolution and support the country’s journey toward energy independence and environmental sustainability.
