A learning exchange visit was conducted by the Microfinance Council of the Philippines, Inc. (MCPI) with the SELCO Solar Light Pvt. Ltd. (SELCO) in Bangalore, India last August 22-26, 2016. The activity was organized by MCPI under the Developing Sustainable Energy Access (DevSEA) program funded by ADA of Luxembourg. The delegation was comprised of representatives of DevSEA partner MFIs: Alalay Sa Kaunlaran, Inc. (ASKI), Negros Women for Tomorrow Foundation, Inc. (NWTF), Peoples Bank of Caraga, Inc. (PBCI), and Paglaum Multi-Purpose Cooperative (PMPC); and the MCPI DevSEA team.
SELCO is a for-profit social enterprise based in Bangalore, India. It is one of the most successful renewable energy access providers in India, receiving multiple accolades in the field of green microfinance, like the prestigious Ashden Awards in 2005 and 2007.
The five-day visit aimed to help participants learn from the experiences of SELCO in the provision of decentralized sustainable energy solutions. The activity included presentations by SELCO and visits to different areas in India where SELCO is operating.
The participants learned about the history of SELCO as a social enterprise, as well as the programs they conceptualized to enhance the quality of life of underserved households,
institutions and livelihoods. SELCO shared that they initially focused on providing customized sustainable energy solutions such as solar home lighting systems with mobile charging capabilities. Now, SELCO has expanded into providing investments to small and medium-sized enterprises under their SELCO Fund 2015 program.
Participants visited SELCO’s warehouse in Bangalore where the components of their renewable energy products are stored, most of which are manufactured in India. The delegates learned how these products are delivered by interacting with SELCO clients in Tumkur and Mysuru.
SELCO invited its institutional partners to discuss joint programs to reduce energy poverty among the most vulnerable sectors in India. Syndicate Bank, one of the largest commercial banks in India, presented details of its partnership with SELCO and financing options for renewable energy products in India. Another partner, Shri Kshethra Dharmasthala Rural Development Project, a non-profit, religious organization based in Mysuru discussed how it acts as a banking correspondent for individuals to financial institutions.
At the end of the program, one of the delegates, Mr. Berny V. Amoy of Peoples Bank of Caraga, Inc., said: “We will review our CELL (Clean Energy Loan for Livelihood) loan product module and strengthen its program implementation. As part of product development, we will design a financing scheme that will address the specific needs of sectors requiring renewable technologies to help them improve their livelihoods.”
To know more about the DevSEA program, please contact MCPI’s DevSEA Program Officer, Ms. Anna Ria Manahan at .