BORG offers Easy, Affordable Financing for its Solar Power Systems

Chennai: BORG Energy Private Ltd, has announced tie up with Shriram City Union Finance Ltd and Bajaj FinSERV Lending to enable customers to avail loans on purchase of BORG’s ASTRA micro solar power plant under the BORG Solar finance Scheme.  BORG Energy has associated with Shriram City Union Finance to provide this facility in Tamil Nadu and Pondicherry and has entered into a similar tie up with Bajaj FinSERV Lending to offer this facility in Chennai, Coimbatore and Madurai.

Under this tie up, the financial institutions would provide loan for customers to avail, without making full upfront investment, for purchase of BORG PV System.

Through the partnership with BORG, Shriram City Union Finance Ltd offers maximum loan amount of Rs. 5 lakhs for residential users  at an interest rate of 5.50 % per annum  for 12 month EMI Scheme, and interest of 5.99% per annum for 18 month EMI Scheme. Bajaj FinSERV Lending offers maximum amount of Rs. 4.5 lakhs at an interest rate of 6.5% per annum for 12 months EMI Scheme. Applicants will be offered affordable monthly payments and flexible extended terms on the loan. The Schemes will be extended to BORG customers across all other states, over the next few months by both Shriram Union Finance and Bajaj FinSERV Lending.

Commenting on this R Sivakumar, Chief Operating Officer, said, “We are launching a revolutionary first of its kind financial Scheme for all our customers to own BORG micro solar power plants.  While banks and other financial institutions provide loans to buy cars and bikes, hardly any financial assistance is provided to those making such investments in residential micro solar power plant. Therefore, financial institutions should also include various easy consumer finance options for the green energy sector under their priority loans scheme. We look forward to our association with the country’s two consumer finance giants to be of advantage to BORG customers. With this strategic tie-up, BORG is keen to enhance the green energy footprint in the country through individual’s involvement and empower people to look at ‘Solar’ as a priority sector to generate uninterrupted power supply with potential to save up to 60% on their energy consumption charges.”