FCC

Yes Bank to subsidize MSMEs' solar installations

2023-05-10

YES BANK has introduced YES KIRAN, a solar installation finance program for Micro, Small and Medium Enterprises (MSME) producers. To help businesses make the switch to renewable energy sources, the bank has worked with firms including Tata Power Solar Systems, Goldi Solar, Loom Solar, and Panasonic Solar Power System.

The program intends to assist MSMEs in implementing sustainable energy practices while reducing costs for fuel and electricity. Reduced operational costs, flexible financing terms at affordable interest rates, end-to-end support from the YES BANK team during the full cycle of planning to implementation, and a wide choice of partnerships with top solar panel manufacturers and installers are just a few of the advantages the program will bring.

According to the bank, the commencement of the program will assist India in realizing its G20 goal of producing over 50% of its energy from renewable sources by 2030.

The bank claimed to be one of the biggest lenders in the nation's clean energy sector and that through this project, it intends to help the expansion of MSMEs in India and promote sustainable financing methods.