New Delhi: Union Minister Nitin Gadkari guest friday MSME benefit from concessional debt financing to install solar on the roof for business efficiency.

The Minister of Micro, Small and Medium Enterprises (MSME) and Road Transport and Highways said rooftop solar power offers an excellent value proposition for MSMEs by significantly reducing the cost of electricity consumption, which represents on average up to a fifth of their operations. Cost.

Speaking virtually to a program, Gadkari said, “I think there is a strong business case for MSMEs to install solar panels on rooftops and make significant savings to achieve cost competitiveness. I am convinced that MSMEs will stand together to generate and consume solar energy using their roofs. ”

The Minister observed that a significant amount (on average Rs 8 and more per unit) is paid by MSMEs for electricity consumption, which contributes up to a fifth of overall production costs.

“To help MSMEs implement rooftop solar projects, the ministry is working with the world Bank on a credit guarantee program to make financing accessible to unrated MSMEs. Since the solar energy tariffs of large power plants have fallen to a record 1.99 INR / kWh, MSMEs must take advantage of this opportunity to reduce their energy expenditure, ”he said.

Addressing the event, Junaid Ahmad, Country Director India, World Bank, said the World Bank is committed to the cause of MSMEs and investment in this industry will help India’s goal to become ” “Aatmanirbhar‘or’ stand-alone ‘.

“By helping MSMEs to decarbonize their energy consumption in a sustainable manner, India can achieve a dual objective: to make the economy greener and to elevate MSMEs to become highly competitive by reducing their electricity costs” , he added.

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