Initiative:

Solar power generation project by a progressive PACS

Beneficiaries:

Members of Chengalam PACS and various district-level stakeholders, Kottayam district, Kerala

The Challenge:

• Power shortage was affecting the functioning of PACS as a dynamic financial intermediary
• Monthly electricity bills a strain on PACS

The Solution:

• PACS decided to set up its own solar power unit
• NABARD financed the Rs 29.80 lakh, 18 KWP composite capacity project with multi crystalline SPV module

The Impact:

• Chengalam PACS is the first cooperative banking institution that meets 100 percent of its power requirement from solar power production
• PACS now pays only Rs 2,500 per month to Kerala State Electricity Board (KSEB) as minimum charge as against ` 60,000 per month earlier
• PACS supplies power to the KSEB and earns approximately Rs 30,000 to Rs 40,000 per month