Nitin Gadkari has invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency.
He said that rooftop solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost.
“I believe there is a strong business case for MSMEs to install rooftop solar and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops,” said Nitin Gadkari.
The World Bank is working with the Ministry of Micro, Small & Medium Enterprises, to bring in a credit guarantee mechanism catering to lending to MSMEs who would like to reduce their energy expenses in the long term by investing in rooftop solar.