Solar energy provider, Freyr Energy has tied up with Axis Bank in order to offer term loan facility to its own customers. The loan would range from Rs 5 lakhs to Rs 50 lakhs for up to 5 years tenure.
The loan will benefit micro, small and medium enterprises (MSMEs) and self-employed individuals and wilk also help them get their solar rooftops for industrial and commercial purposes.
The initiative taken by the company will help the customers of Freyr Energy reduce their electricity bills by using solar systems.
“This loan program will help MSMEs significantly reduce their electricity bills. Going forward, we will continue working on innovative financial instruments to improve affordability. This will help India move closer to achieving the renewable energy target of 40GW of solar rooftop installations,” said co-founder and managing director Freyr Energy Saurabh Marda, according to a source.
Freyr Energy was co-founded by Saurabh Marda and Radhika Choudary in 2014.
The company is a full service provider of solar products, it ensures its customer to have a hassle free experience from the moment they use their solar requirements.
