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Solar Loans

Finance available for Solar Power Projects - Electronica Finance Limited

Many Indians are choosing to shift from the conventional electricity to solar power, given the present cost and interruption issues. There are multiple advantages of switching to solar energy. First of all, it reduces cost per unit of electricity along with an assurance of uninterrupted power. Next, it effectively insulates against the disproportionate unilateral increments from power Discoms. Though the benefits are clear, heavy capital investment is the main hurdle in shifting over to the renewable, dependable and clean energy source.

Electronica Finance Ltd, a leading NBFC (Non-Banking Finance Company) in India, has been at the forefront in providing easy and accessible finance. Identifying the latent need of finance for Solar Power Projects, we have introduced innovative finance models. Customers can opt for a flexible Term Loan or a Power Purchase Agreement with EFL for a period of 7 years precisely, whereas the guaranteed life of solar panels is 25 years. This clearly means that the customers enjoy free electricity for the remaining 18 years. In addition to this, EFL processes the loan with minimum paperwork and does not ask for any security so as to speed up the procedures.

Products Offered :

  • Term Loan
  • PPA

Power Purchase Agreements (PPAs): A power purchase agreement is a type of solar financing where EFL owns and maintains the solar system on your property, and you simply pay for the solar energy it produces, much like you pay your existing utility for power now. A PPA rate may be flat or may escalate over the years; however, the primary benefit of a PPA is that your PPA rate is pre-negotiated for the agreement (7 years). So, you're paying for the clean, renewable energy generated through your solar panels and you know exactly how much you'll be paying for that energy for as long as you have it.

With EFL holding your back, you need not worry about the power cuts. Just take care of your business growth, and we will take care of the obstacles!