Standard Capital, a leading Non-Banking Financial Company (NBFC), has announced a comprehensive funding initiative aimed at supporting renewable energy projects and electric vehicle (EV) mobility solutions across India. The initiative will focus on helping companies implement green energy solutions, contributing to a more sustainable and cost-effective energy landscape.
In line with India's growing clean energy efforts, Standard Capital's funding will provide critical financial support for projects that install solar panels and other renewable energy systems. India has made significant strides in the clean energy sector, with over 68 GW of solar capacity already installed as of 2023. This push is part of the country's larger goal to achieve 500 GW of renewable energy capacity by 2030.
Zero-Cost EMI for Clean Energy Projects in Schools & Residential Societies
The centerpiece of this initiative is the launch of Zero-Cost EMI financing, specifically designed for educational institutions and residential societies, to make the adoption of green energy solutions more accessible and affordable. The Zero-Cost EMI scheme offers a unique, interestfree repayment structure, easing the financial burden on institutions and enabling wider adoption of sustainable energy. By providing this service, Standard Capital is playing a crucial role in driving the green energy movement across educational and residential sectors.
The Unit Economics
Each project under this initiative is sized at ?50 lakh, ensuring that companies can access the resources they need to roll out sustainable energy solutions at scale. As part of this initiative, Quicktouch has already announced plans to install solar panels in educational institutions.
'This initiative will empower companies to reduce their carbon footprints, contributing to a greener economy while aligning with national energy goals' - Gaurav Jindal, Quicktouch MD.
Foray Into Growing EV Market
Additionally, Standard Capital is extending its financial support to companies entering the electric vehicle (EV) mobility sector The Indian EV market is crucial to reducing transportation emissions, which currently account for 14% of the country's total carbon emissions. The transition to electric vehicles is key to addressing this, with the government setting a goal of 30% EV penetration by 2030. India is projected to reduce nearly 35% of vehicular emissions by this transition, and the EV market is expected to reach $150 billion by the same year.
By enabling the rollout of green energy and EV mobility solutions, the NBFC is playing a pivotal role in supporting the nation's transition to a cleaner, more energy-efficient future. |
