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Financial institution of Baroda (Financial institution), considered one of India’s main public sector banks, immediately introduced that it has entered into an alliance with Aerem Options Pvt Ltd (ASPL) and its subsidiary, Aerem Finance Pvt Ltd (AFPL) for the financing of Photo voltaic Rooftop tasks for captive use by MSMEs. Beneath the settlement, Financial institution of Baroda will present collateral-free loans at inexpensive charges to MSMEs for set up of captive photo voltaic rooftop tasks.
Aerem Options Pvt Ltd (ASPL) is a revolutionary end-to-end platform that permits high quality rooftop photo voltaic installations for MSMEs, whereas Aerem Finance Pvt Ltd (AFPL) is an NBFC registered with the Reserve Financial institution of India.
This collaboration will encourage MSMEs to undertake photo voltaic power, considerably decreasing energy payments and growing profitability of the enterprise in addition to supporting the event and development of the renewable power market in India.
Dhrubashish Bhattacharya, Head – MSME Enterprise, Financial institution of Baroda stated, “Clear power, sustainability, internet zero emissions usually are not solely buzzwords, they’re now enterprise imperatives. Photo voltaic power is a clear, low cost and ample supply of power. Financial institution of Baroda has launched a collateral-free scheme to finance photo voltaic rooftop tasks for captive use by MSMEs and this association with AEREM offers the Financial institution entry to progressive MSMEs who’re eager to make use of photo voltaic power, thereby decreasing their carbon footprint and enhancing profitability.”
Anand Jain, Founder and CEO, AEREM stated, “Aerem is on a mission to democratize the adoption of rooftop photo voltaic and construct a greater, greener and sustainable future. Our progressive SolarTech platform ensures high quality rooftop photo voltaic programs, which mixed with collateral-free finance permits important discount in energy payments of MSMEs. We provide a totally digitalised, hassle-free and seamless expertise to MSMEs.”