Since 2000, the IEA estimates that more than 700 million people in India gained access to electricity, on both a large and small scale. Yet millions more remain unconnected to reliable and affordable power. Through our partnership with SELCO, we are applying market-based approaches to accelerate progress.

A brighter future in India: Bringing solar energy to homes, businesses, and schools

With the world’s second largest population, India has one of the fastest growing economies globally. But meeting the energy needs of some 1.4 billion people is no easy task, particularly in low-income rural areas. As many as 13% of Indian homes, or about 182 million people, do not have grid-connected electricity, and many of those that do may only get power for a few hours a day.

While policy and large-scale investment are necessary, carbon finance fulfills a need to immediately turn the light on for communities who would otherwise would not have access to such a basic need as affordable energy.

Natural Capital Partners is part of a joint initiative with the SELCO Solar Energy Access project to provide tailored financial support and solar products to underserved rural communities in Western India. The project creates financing opportunities for small businesses, schools, and households to provide affordable access to solar lighting, solar water heating, and solar PV.

A recent assessment of the project identified significant milestones in the project by:

The state of Karnataka is one of the richest states in India and yet millions of people are left behind. For nearly 2 decades, Natural Capital Partners has worked with SELCO to bring reliable and affordable energy access to about 1 million households and businesses in the region. As we seek a more inclusive economy, SELCO’s innovative approach to microfinance applies sustainable economic incentives to bridge the gap.

Images copyright SELCO India