Tata BP Solar and Aryavart Gramin Bank in the Spotlight
New Delhi, 28 May 2008: The Aryavart Gramin Bank has been chosen as one of the finalists for the internationally recognized Ashden Awards given for inspirational sustainable energy solutions.
The bank has literally lit up the lives of thousands of villagers across 6 districts in Uttar Pradesh by providing easy finance for the purchase of Tata BP Solar home lights.
Tata BP Solar and its dealer, Solar Power System, have been able to demonstrate the benefits of using solar power across villages in Uttar Pradesh. Easy finance schemes from the Aryavart Gramin Bank have enabled villagers to procure these high-quality and reliable solar-home-lighting systems at affordable prices.
Mr. K. Subramanya, CEO, Tata BP Solar India, said; “Our collaboration with the visionary team at Aryavart Gramin Bank has provided over 8000 rural households with affordable solar lighting systems. Together we are leading the way to a progressive India. We believe that solar energy can play a significant role in India’s economic progress and we are committed to making a major contribution in this field. Our best wishes are with the bank as they gear up for the final award ceremony.”
Grid power still remains a distant dream for a large number of villages in UP where 70% of the population lives. Livelihood of farmers and education of children can benefit hugely with proper access to power for this vast population.
Another rural bank in Uttar Pradesh, Prathama Bank has similarly financed a large number of solar lighting systems in Moradabad district. Two villages, Ishapur and Lala Tikkar, far removed from power grid lines, have been completely electrified by Tata BP Solar home lighting systems with easy finance from Prathama Bank. Many other rural banks such as Gurgaon Gramin Bank and Kashi Gomti Gramin Bank are also coming forward with similar easy finance schemes to light up the villages the solar way.
Notes to editors
Ashden Awards:
Ashden Awards are given to inspirational and innovative local sustainable energy projects from Asia, Africa and Latin America. Seven international finalists from these regions were announced for the 2008 awards on 27 May in London. They will each receive prizes of up to £20,000 with an overall Energy Champion winning up to £40,000. Aryavart Gramin Bank has been declared one of the finalists for 2008. Mr. N. K. Joshi, Chairman, will represent the Bank at the final award ceremony to be held in London on 19 June. Mr. Joshi will make a technical presentation on the project to the final jury at Imperial College London on 18 June. Mr. Amit Kumar from Tata BP Solar will be present on both occasions.
Aryavart Gramin Bank:
Aryavart Gramin Bank, Lucknow (Uttar Pradesh) is a regional rural bank. The bank uses solar photovoltaic (PV) systems from Tata BP Solar to back-up the unreliable grid power for some of its branches and recognised the potential of PV for its many off-grid customers in rural areas. The Bank finances Tata BP Solar Venus Lights with easy finance loans. The bank has been working in 6 districts across UP spreading awareness about solar power systems. The Bank has held service camps, awareness programmes and village meetings to promote Solar lights which have been priced affordably. The villagers pay a small amount to the bank to get the solar lights installed. The bank finances the remaining amount which is paid back by the beneficiary in monthly installments over three to five years. The bank appoints village promoters who are paid Rs 500/-per 100 lights per month as incentive. The promoters are responsible for both maintaining the lights as well as collecting the money. They are paid a bonus of Rs 4000/- at the end of the year if they meet their targets. The Bank has financed about 8000 lights till now.
Tata BP Solar:
Tata BP Solar is Bangalore based joint venture of Tata Power and BP Solar, where BP Solar holds a 51% stake and Tata Power Company Limited holds the balance. Formed in 1989 with commercial operations beginning in 1991, Tata BP Solar has an established track record of managing safety, growth and performance. The company manufactures Solar cells, solar panels, as well as delivering solar solutions to the end customer. Tata BP Solar's manufacturing facilities for Solar Photovoltaic and Solar Thermal Products and Systems are the largest of their kind in the country. The company has supplied solar energy systems that provided energy to more than 7 million people in the Indian sub continent for applications such as village lighting, water pumping and telecommunications. Tata BP Solar has the distinction of obtaining ISO 9001 quality accreditation and ISO 14001 environmental standards accreditation from BVQI, London. Tata BP Solar products and systems have been accorded approvals by various test agencies across the world including the World Health Organization; Bureau of Indian Standard, Asian Institute of Technology amongst others.
