According to reports, power-back up solutions provider Su-Kam Power Systems today announced it has tied up with non-banking finance company Shriram City Union Finance to offer solar power systems under a pilot study in Tamil Nadu.
“Su-Kam Power Systems has launched finance schemes for solar installations in residences to customers in Tamil Nadu. This move is aimed at making solar installations at residences affordable to customers by doing away with high initial cost of installation..,” Su-Kam Power Systems said in a statement.
“The pilot study is aimed at making solar systems affordable and would be later extended to other parts of the country soon…,” it said.
For providing finance schemes to buyers, Su-Kam has tied up with Shriram City Union Finance for buyers who are keen to install solar system under the Green EMI product scheme.
Under the scheme customers can avail a maximum of Rs 5 lakh at an interest rate of 5.5 per cent per year for a 12 month EMI (equated monthly installment) and an interest of 5.99 per cent per year for an 18 month EMI scheme, it said.