Karnataka Vikas Grameena Bank (KVGB) and SELCO Solar Light Pvt. Ltd., a social enterprise that provides sustainable energy solutions to under-served households and businesses, have signed a memorandum of understanding on solar lighting and livelihood solutions.
According to a release, KVGB chairman P. Gopi Krishna and SELCO Solar Lights CEO Mohan Hegde on Friday signed the MoU, according to which the bank will finance livelihood solutions backed by solar power to uplift micro and small entrepreneurs, economically weaker sections of society, sustainable agriculture, and women’s empowerment. SELCO provides technological interventions, market linkages, banking and financial inclusion support, and training for capacity building.
After exchanging the MoU, Mr. Krishna said the aim is to empower micro and small entrepreneurs. He also said that conventionally, people only think of lighting and water heating solutions when it comes to solar energy. “Solar energy solutions should not be limited to this and should be pointed towards the sustainable development of society by providing solutions for people’s needs,” he said.
Mr. Hegde said many micro enterprises and traditional occupations have come to an end because of their dependency on conventional power sources and shortage of human resources. To tackle this problem, SELCO has been providing alternative and sustainable energy through technical interventions, he said.
