GEAPP and MAHAPREIT will collaborate to implement 500 MW of rooftop solar for small and medium enterprises and 500 MW of ground-mounted decentralised solar under PM KUSUM program.

 

“The partnership aims to support MAHAPREIT in managing, designing, and developing investment projects. It will also facilitate the creation of a sustainable business model for all stakeholders and provide institutional support to MAHAPREIT for the successful implementation of the project,” stated GEAPP.

 

“With this project, GEAPP will solarize agriculture feeders and SMEs, impacting one million lives across the state by year 2026.”

 

Maharashtra has an estimated 8.4 lakh SMEs, which constitutes about 8% of the total SMEs in the country. While large industries have better access to technical advisory and expert support, the sector still seeks financial aid (loans, credit facilities).  However, the same is not as easily accessible to SMEs. “Through this collaboration, we aim to empower SMEs and rural communities with access to clean and affordable energy,” stated GEAPP.

 

MAHAPREIT is an arm of state-run Mahatma Phule Backward Class Development Corp. (MPBCDC). It establishes and undertakes the business of generation, trading, operating, leasing and renting renewable power projects.

 

GEAPP is an alliance of philanthropy, local entrepreneurs, governments, and technology, policy, and financing partners. It aims to support developing countries’ shift to a clean energy, pro-growth model that ensures universal energy access.

 

With philanthropic partners, IKEA Foundation, The Rockefeller Foundation, and Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyse new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions and assist just transition solutions.