29.3 C
Delhi
Thursday, October 9, 2025

Bank of Baroda partners with Solar Start-up ASPL

Date:

Share post:

Donate-GC-Razorpay

Hyderabad: Bank of Baroda, one of India’s leading public sector banks, on Monday announced that it has entered into an alliance with Aerem Solutions Private Limited (ASPL) and its subsidiary, Aerem Finance Private Limited (AFPL) for the financing of Solar Rooftop projects for captive use by MSMEs.

Under the agreement, Bank of Baroda will provide collateral-free loans at affordable rates to MSMEs for installation of captive solar rooftop projects, a Bank release here said.

ASPL is a revolutionary end-to-end platform that enables quality rooftop solar installations for MSMEs, while AFPL is an NBFC registered with the Reserve Bank of India.

This collaboration will encourage MSMEs to adopt solar energy, significantly reducing power bills and increasing profitability of the business as well as supporting the development and growth of the renewable energy market in India.

Dhrubashish Bhattacharya, Head – MSME Business, Bank of Baroda said, “Clean energy, sustainability, net zero emissions are not only buzzwords, they are now business imperatives.

Solar energy is a clean, cheap and abundant source of energy. Bank of Baroda has introduced a collateral-free scheme to finance solar rooftop projects for captive use by MSMEs and this arrangement with AEREM provides the Bank access to progressive MSMEs who are keen to employ solar energy, thereby reducing their carbon footprint and improving profitability,” he added.

Anand Jain, Founder and CEO, AEREM said, “Aerem is on a mission to democratize the adoption of rooftop solar and build a better, greener and sustainable future.

Our innovative SolarTech platform ensures quality rooftop solar systems, which combined with collateral-free finance enables significant reduction in power bills of MSMEs. We offer a fully digitalised, hassle-free and seamless experience to MSMEs,” Jain said.

Related articles

Government cannot create a Startup Ecosystem – Investors and Innovators do

Every time a government minister announces a new “Startup Hub” or “Innovation Park,” the cameras flash, the crowd...

How Mangaluru Beat Goa to Become the Silicon Beach of India

For years, Goa was seen as the natural candidate to become India’s “Silicon Beach.” Blessed with a cosmopolitan...

Goa Needs an Alternate Development Model – A Bharat-Centric Model

Goa is at a crossroads. The land that once symbolised spiritual tranquillity, natural abundance, and cultural harmony is...

Jammu Cyber Police Bust 4.4 Crore Fraud; Three Accused Arrested from Gujarat

In a major breakthrough in the fight against cyber-crime, the Cyber Police Station, Jammu, has successfully uncovered a...