NBFC Standard Capital announces comprehensive funding initiative to support green energy

Standard Capital, a leading Non-Banking Financial Company (NBFC), has announced a comprehensive funding initiative aimed at supporting renewable energy projects and electric vehicle (EV) mobility solutions across India.

According to the company, the initiative will focus on helping companies implement green energy solutions, contributing to a more sustainable and cost-effective energy landscape. 

In line with India's growing clean energy efforts, the NBFC will provide critical financial support for projects that install solar panels and other renewable energy systems. 

India has made significant strides in the clean energy sector, with over 68 GW of solar capacity already installed as of 2023. This push is part of the country’s larger goal to achieve 500 GW of renewable energy capacity by 2030.

The main focus of the initiative is the launch of Zero-Cost EMI financing, specifically designed for educational institutions and residential societies, to make the adoption of green energy solutions more accessible and affordable.

"The Zero-Cost EMI scheme offers a unique, interest free repayment structure, easing the financial burden on institutions and enabling wider adoption of sustainable energy. By providing this service, Standard Capital is playing a crucial role in driving the green energy movement across educational and residential sectors," the company said.

Additionally, Standard Capital is extending its financial support to companies entering the electric vehicle (EV) mobility sector The Indian EV market is crucial to reducing transportation emissions, which currently account for 14 per cent of the country’s total carbon emissions.

Earlier, the company NBFC company said that its board of directors has approved the plan to raise Rs 264 crore via Non-Convertible Debentures (NCDs) through private placement. 

According to an exchange filing, each NCD is priced at Rs 10,00,000. The company said the board approved the allotment of 2,648 unrated, unlisted, secured NCDs totalling Rs 264.8 crore.

"Approved the allotment of 2648 unrated, unlisted, secured NCDs, of face value of Rs. 10,00,000/- each at an issue price of Rs. 10,00,000/- each aggregating to INR 2,64,80,00,000," the company said in an exchange filing.