Story when entreprenuer, microfinancing and renewable energy got hitched
Thursday, October 21, 2010 4 comments
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There is a constant lingering uproar about the cost of renewable energy technologies. In India it costs around INR 140-160 million per MW to install a solar PV plant. Most of the companies have ventured with huge plans and would be able to cater to certain percentage of the pie. But how can state and central government implement the same? Also, various rural upliftment schemes have failed miserable in the past along with failure in providing employment opportunity to the youth in these regions. How to tackle the same? I found the answer from a model case in South Africa rural area.
A French-company PlaNet Finance is mulling over combining entrepreneurship, micro-financing and renewable energy all under one umbrella. The model establishes an environment where entrepreneurs are trained to start their own franchises within a community and also equips the franchisee with the necessary skills to run the business, paired with the necessary access to loan facilities. This has generated quite a buzz in the community with rural people looking forward of implementation of the same. It would provide employment opportunity and clean power for the community and good returns for the entrepreneurs and micro-financing institutions.
What's you take on the same? Can this be adopted in India as well? What would be the challenges?