SBI-WAARE collaborate: The largest solar panel producer in India, WAAREE, has an agreement with State Bank of India (SBI) for unsecured solar project financing through the Surya Shakti Solar Finance Scheme and working cash for channel partners under EDFS (Electronic dealer finance scheme). Through the Surya Shakti Solar Finance Scheme, WAAREE plans to leverage a credit line of more than $500 million and offer loan borrowers a digital platform for a simple application process.
SBI-WAARE collaborate: Key Points
- Through its network of Channel partners (SBI and WAARE), which serves the client base in the farthest reaches of the nation, WAAREE boasts the broadest presence throughout India.
- Commercial Institutions, Industries, Resorts, Hotels, Manufacturing Units, and Warehouses will make full use of this unsecured financing instrument in order to switch to solar energy.
- Increasing solar adoption will therefore help India’s energy security and hasten the decarbonization of power.
- The complete ecosystem has been built up to guarantee that consumers receive all the assistance and advice required to select the appropriate equipment, address technical issues at their doorsteps, and quicken loan approvals.
SBI-WAARE collaborate: WAAREE, a Top Performer
Through a plethora of Innovative products and the high-wattage Solar panels that are required today, WAAREE has always been at the forefront of industry advancement. By becoming the only producer in India to have a 650Wp Solar panel classified in ALMM, WAAREE has achieved distinction. The need for high-quality, high-efficiency solar panels is met by WAAREE’s state-of-the-art panel production facilities, which are equipped to produce panels with a Wp rating of 540 or higher. The Economic Times has named WAAREE “India’s Best Brand” in the renewable energy sector. In its 2022 Scorecard, which is published to highlight the success of international manufacturers, PVEL, a lab with a worldwide reputation for photovoltaic testing, identified WAAREE as one of the Top Performers.