/ -- WAAREE, India's largest Solar Panel manufacturer, has entered into an Agreement with SBI for availing unsecured financing for solar projects through Surya Shakti Solar Finance Scheme and providing working capital for Channel Partners under EDFS (Electronic dealer finance scheme).
WAAREE intends to leverage over 500 Cr of a credit line through Surya Shakti Solar Finance Scheme and provide a digital platform for hassle-free journey to loan applicants for financing solar projects.
WAAREE enjoys the largest footprint across India through its Channel partner network, which caters to the customer base in the remotest corner of the country. This unsecured financing facility shall be extensively used by Commercial Institutions, Industries, Resorts, hotels, Manufacturing Units, Warehouses for adopting solar as their new energy source. Hence boosting solar penetration across India, aiding our country's energy security and accelerating decarbonization of power. The entire ecosystem has been set up to ensure that the customers get all necessary support and guidance to choose the right equipment, resolve technical issues at their doorsteps, and expedite approvals of loans.
WAAREE has always led the change in the industry through the slew of Innovative products, and high-wattage Solar panels which is the need of today. WAAREE has a distinction by becoming the only manufacturer in India to get a 650Wp Solar panel listed in ALMM. WAAREE's state-of-the-Art panel manufacturing facilities are equipped to manufacture panels above 540 Wp, thus catering to the demand for quality, high-efficiency solar panels. WAAREE has also been recognized as 'India's Best Brand' in the Renewable energy industry by The Economic Times. PVEL, a globally recognized Lab in photovoltaic testing, has listed WAAREE as the Top Performers in its 2022 Scorecard which is published to highlight the performance of global manufacturers.
About State Bank of India:
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home-buying dreams of 30 lakh Indian families.
About WAAREE:
WAAREE Energies Ltd. is India's leading Solar PV Panel manufacturer. In addition, it provides EPC services, project development, rooftop solutions, and solar water pumps and is an Independent Power Producer. WAAREE is present in over 388+ locations nationally and 19 countries globally.
Logo: https://mma.prnewswire.com/media/1197503/Waaree_Logo.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Wed, September 07 2022. 13:29 IST