Renewable energy stakeholders across India including CLEAN recently welcomed the RBI's recent decision to accord priority sector lending status to the industry. As an industry association for the off-grid renewable energy sector that works to improve the quality of life of around 400 million Indians living without access to modern forms of energy, CLEAN held an exclusive event in the capital for around 70 partners and member organizations to specifically discuss the issue of debt financing for small scale, off-grid energy entrepreneurs. The workshop, organized in association with GIZ India and SELCO Foundation, facilitated a two-way dialogue between entrepreneurs serving energy poor consumers in remote areas and bankers working in these areas.
The event was attended by senior bankers from NABARD, Regional Rural Banks as well as Scheduled Commercial Banks including Mr Puli Pandu of NABARD, Mr. Ashok Reddy Nukala of Karnataka Vikas Grameena Bank, Mr S.S Khehra of Grameen Bank of Aryavart, Mr B.R Anand of Pragati Krishna Grameena Bank, Mr G. Upadhyay of Narmada Jhabua Grameen Bank, Mr Prasanna Bal of Manipur Rural Bank, Mr M.G Bhatt of Canara Bank and Mr Manoj Rawat of Ratnakar Bank. The bankers were engaged by CLEAN's board member and renowned solar entrepreneur Dr Harish Hande in a discussion on their views on lending to this sector and its credibility. The bankers expressed their positive outlook for the sector and stressed the need for ensuring quality control of products and single spoke servicing to ensure repayment of loans by the end user. While discussing financing models, both entrepreneurs and bankers were agreed on the view that credit guarantee funds and buyback schemes for solar paved the way for greater financing for poor consumers.
Entrepreneurs working in different market segments and geographies across India shared their experience and challenges of securing financing at the end user level. They asserted the credit worthiness of the consumers they serve and talked about engaging community leaders, micro-finance institutions and other non-profit organizations to ensure optimal success of their projects.
The event was graced by the Joint Secretary, MNRE, Mr Tarun Kapoor, who assured entrepreneurs that there will be more clarity at the policy level for off-grid renewable energy in the months to come. "The government holds the work of off-grid energy entrepreneurs in high regard and we are not neglecting this sector within the larger renewable energy sector" he said. He also interacted with the audience on the issue of capital subsidies for solar and took their suggestions for future modifications to the scheme.
The workshop was brought to a close by Mr Ashis Kumar Sahu, CEO of CLEAN who stressed the importance of holding such workshops at the regional level. "In keeping with our efforts to democratize and decentralize energy access, we are thinking of organizing a series of workshops in Tier II regions across India along similar lines in the coming months" Mr Sahu said. Mr Nilanjan Ghose of GIZ India gave the vote of thanks for all the participants and organizers behind the successful event.
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