Bank of India Financing India’s Solar Transition

The Bank of India has recently announced that it’s planning to offer loans to folks looking to slap some solar up on their homes or businesses, it has been reported in a press report.

The state-owned bank inked an MOU with the solar unit of Gautam Polymers to pony up the capital for rooftop panels and lanterns in an effort to make it easier for consumers to go solar, it is reported.

It is reported that this isn’t just some random altruistic endeavor. Truth is, India can’t have continued repeats of last summer’s blackout that cut power to about 600,000 people. And those in charge know that solar is one of a handful of solutions that can help alleviate the threat of future blackouts.  The Bank of India is simply capitalizing on the inevitable.