Mangaluru: With the intention to finance solar rooftops in Mangaluru, Dakshina Kannada district administration in association with NABARD, various banks and Mescom organised a mega solar credit camp at the Town Hall here on Wednesday, February 17.
The camp was inaugurated by Lead Bank manager Raghav Yejamanya and deputy commissioner A B Ibrahim along with other dignitaries.
Speaking to the media, Raghav Yejamanya said, “It is a great opportunity to all the banks to be part of this project. About 12 banks have participated in this camp, out of which 8 are nationalized banks, 2 are private, one cooperative and one regional. As many as 15 suppliers are showcasing their products”.
Speaking with regard to the process to be followed, he said that initially, the Mescom department will provide the feasibility certificate for the installation. This will take two working days, following which the loan application will be processed by the bank.
“The entire process of installing the solar roof will take about 11 days”, he said in this regard and added that loans up to Rs one lakh would be approved without any collateral whereas for loans above Rs one lac, the beneficiary has to provide collateral.
“In case the beneficiary has mortgaged his property for housing loan then the same will be taken as the collateral. In case the beneficiary’s property is not mortgaged, then government bonds, LIC, bank deposits or any other bonds will be taken as collateral,” he explained.
Deputy Commissioner A B Ibrahim expressing his appreciation for a project of this stature said, “Installing solar rooftop is a very good proposition as the district has very high potential to produce solar power. On the other hand, one can contribute towards the environment by using green energy. It can also be taken as a business investment as the excess energy produced can be sold to Mescom at Rs 9.56 a unit”.
MLC Ivan D’souza also spoke at the occasion. He concluded by saying that the main aim of such a project is to make Dakshina Kannada a solar energy district, for which he would approach the chief minister to take DK district under pilot programme by providing grants.
“I urge all the government and private institutions to install the panels at their campuses”, he said and added that he had provided grants to around 40 endosulphan-affected families so as to enable them to install solar panels.