Freyr Energy ties up with Axis Bank

Solar energy services company Freyr Energy has tied up with Axis Bank to offer term loans ranging from `5 lakh to `50 lakh for tenures up to five years, for solar rooftop installations in Delhi NCR Region.

The loans will be given to MSMEs and self-employed individuals to install their solar roof tops for industrial and commercial purposes.

Saurabh Marda, Co- Founder and Managing Director, Freyr Energy said, “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 40 GW of solar rooftop installations, set by the Indian government.”

The Freyr SunPro app is said to eliminate all the complexity involved in system design, pricing, proposal generation etc. and made it easier to sell a solar system, while ensuring the customer gets the best product possible.

“With Freyr Sunpro, a solar or electrical background is not needed anymore to start their business. The training time to use the SunPro is less than 1 hour,” the company claims.

The initial investment required to start a rooftop solar business is zero. MSMEs can easily download the application from Google Play Store and Apple App Store.