One of our important initiatives has been in the field of renewable energy. Sarala has been an early entrant and a successful player in financing the acquisition of Solar Lamps. For this Sarala was recognized as a success story by USAID under a program known as PACE-D. This initiative has set us apart from most other Microfinance organizations in India.
Sarala commenced its Solar Program in June 2015. A total of 66 Branches are covered in the program over 13 districts (counties) in West Bengal and 3 each in Assam and Bihar. As of March 2017, we had cumulatively sold 130,907 units, with a total value of INR 237 million. Of this, our cumulative financing was for a total amount of INR 153 million. As of March 31 2017, the outstanding solar portfolio stands at INR 10.7 million covering 11,105 borrowers. Sarala plans to expand its number of Branches to over 300 in 5 years all of which are expected to be part of our RE/EE program. Here is the summary