Powering Agriculture – Community based Solar Pump
Project addressed the major issue of financing a solar irrigation pump by forming underserved farmers into a Joint Liability Groups and get them financing from the bank under the JNNSM MNRE-NABARD promoted bank financing scheme. 30 pumps to be financed through banks by setup of a FLDG Fund (First Loss Default Guarantee Fund) which further scaled up to a 1000 pumps in 3 years after project completion. Through a revolving corpus and guarantee fund to have a catalytic effect in setting up over 1000 solar pumps in 3 years after the project it benefitted over 75,000 people.
LocationWest Bengal, Jharkhand, Odisha & Chattisgarh
Achievements
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Guranted Fund for Solar Pump Finacing setup with Punjab National Bank, Axis Bank & RBL Bank.
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4,034 applications mobilized for Solar Pumps
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500+ Solar pumps installed
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20 small pumps installed for women