Credit Fair partners with Jakson Solar to offer solar energy financing in India – ETEnergyWorld

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Credit Fair, a consumer lending fintech startup, has partnered with Jakson Solar, a part of the Jakson Group, to provide affordable solar equipment financing options in India. The collaboration aims to facilitate the installation of clean energy systems for individuals, MSMEs, trust institutions, and housing societies.

Credit Fair’s objective is to accelerate the adoption of solar energy solutions across the country, offering faster, simpler, and fully digital lending solutions to customers opting for Jakson Solar equipment. The company will provide easy EMI options for up to seven years with the flexibility to pre-close loans without additional charges.

With an ambitious target of scaling up its green financing loan portfolio to Rs 400 crore and growing its total assets under management (AUM) to Rs 1,000 crore by FY25, Credit Fair will cater to retail customers and commercial ventures, providing loans up to Rs 50 lakh and Rs 2 crore, respectively. The initiative will extend to tier-3 and tier-4 cities, besides offering channel financing to Jakson Solar dealers and business partners.

Credit Fair intends to increase the share of green financing in its loan book to 40 percent, aiming for a total AUM of Rs 1,000 crore by FY25, with the green financing loan portfolio reaching Rs 400 crore.

Vikas Agarwal, Co-founder and CBO of Credit Fair, emphasized the collaboration’s significance in promoting clean energy solutions and ensuring access to world-class equipment and technologies in the domestic market.

Anurag Garg, CEO of Jakson Solar, highlighted the company’s commitment to driving India’s transition to clean energy, aiming to reduce carbon emissions and improve air quality. Jakson Solar aims to provide solar power systems with quicker payoff times, ensuring customers receive high-quality systems with optimal returns on investment.

  • Published On Feb 13, 2024 at 02:49 PM IST

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