Freyr Energy, a full service solar provider, has tied up with Axis Bank to offer term loan facility ranging from Rs. 5 lakhs to Rs. 50 lakhs for up to 5-years tenure to its customers in Karnataka. This move will help Freyr Energy’s customers in reducing their power bills drastically and also, improve affordability significantly. The loans will be given to MSME’s & self-employed individuals to install their solar roof tops for industrial & commercial purposes.
Mr. Saurabh Marda, Co- Founder and Managing Director, Freyr Energy said, “We are extremely pleased to have Axis Bank on-board in helping accelerate the adoption of rooftop solar power across the country. This loan program will help MSMEs significantly reduce their electricity bills. Going forward, we will continue working on innovative financial instruments to improve affordability. This will help India move closer to achieving the renewable energy target of 40GW of solar rooftop installations, set by the Indian Government.”
MSMEs can show their intent to apply for loan under this arrangement through Freyr’s recently launched revolutionary ‘India first’ mobile application – Freyr SunProTM. Freyr SunPro eliminated all the complexity involved in system design, pricing, proposal generation etc. and made it easier to sell a solar system, while ensuring the customer gets the best product possible.
With Freyr SunproTM, a solar or electrical background is not needed anymore to start their business. The training time to use the SunPro is less than 1 hour. The initial investment required to start a rooftop solar business is zero. MSMEs can easily download the application from Google Play Store and Apple App Store.