Solarising Goa & Launch of “Energy Efficiency Enterprise and E-Rupi for Excellence (E4E)” Program

Bhubaneswar: SIDBI, organised a program viz. Solarising Goa & Launch of E4E Program – Energising Enterprise Ecosystem Outreach programme “on February 19, 2024 at Panaji, Goa. The program witnessed participation of more than 100+ MSMEs / Industry Associations / Green Merchants / Vendors, and other enablers serving the MSME ecosystem. The objective was to carry out discussion on the importance of Greening the MSME Ecosystem and the launch of the innovative Energy Efficiency Enterprise and E-Rupi for Excellence (E4E) program designed to lead the way in Greening the Enterprising Nation. This event successfully brought together MSMEs and stakeholders, to reflect on the recent developments on green finance, and to discuss how the financial system and the MSMEs can find a common ground to ensure a resilient and low-carbon transition in India.

Mr. Prakash Kumar, DMD, SIDBI, welcomed participants with his opening remark, providing a comprehensive introduction and shared insights on SIDBI’s Green footprints in the MSME ecosystem.

Dr. R.K. Singh, CGM & Head, Green Vertical, SIDBI, welcomes chief guest of the program i.e. Mr. Sudin Dhavalikar, Hon’ble Minister of Power, New & Renewable Energy) and explained on SIDBI’s Green Strategy which it has adopted to contribute to both mitigation and adaptation needs as also about the Energy Efficiency Enterprise and e-RUPI Excellence (E4E).  Further, Dr. Singh also explained that SIDBI has prioritized two key areas viz. “Digitization” and “Greening the enterprise ecosystem”  and also explained about SIDBI’s give mission programs viz. Mission Energy Efficiency, Mission Solar, Mission EV, Mission Waster to Envttaste and Nurture t Nature. The audience were also given a treat  of SIDBI’s developmental and financing offerings for greening the enterprise ecosystem. SIDBI is blending the hard and soft infrastructure requirement as also attending to entire value chain bottom up i.e. right from startups going green to providing support to MSMEs and lenders in terms of blended finance and risk mitigant tools. Dr. Singh also mentioned the MSME GIFT and SPICE programme including the definitional framework and green/clean / EE technology basket of SIDBI aimed at easing green credit access. Dr. Singh explained the broad contours of the E4E scheme and its benefits to the MSMEs.

Mr. Sudin Dhavalikar (Hon’ble Minister for Power, New & Renewable Energy, Goa) along-with Mr. Sivasubramanian Ramann (CMD, SIDBI), Mr. Prakash Kumar (DMD, SIDBI), Mr. Manguirish Pai Raikar (Chairman, ASSOCHAM Goa State Development Council) and Mr. Sanjeev Joglekar, Member Secretary, GEDA, launched SIDBI’s E4E (Energy Efficient Enterprise and E-Rupi for Excellence) Program in Panaji, Goa on 19th February 2024. The launch coincides with SIDBI’s initiative of “Solarizing Goa”, through which SIDBI aims to catalyze adoption of green practices in MSMEs in the state.  Outlining the Government’s Green vision, Hon’ble Minister Mr. Dhavalikar exclaimed, “Mr. Dhavalikar said that goal is to have 100% renewable energy use across all sectors by 2050”. Mr. Dhavalikar also congratulated SIDBI on the launch of the E4E Program and expressed his confidence in the potential of E4E to kickstart adoption of green products/adoption by MSMEs in the state.

About E4E – SIDBI’s E4E Program aims to enable MSMEs to adopt sustainable practices and foster green investments by MSMEs. Under the E4E Program, MSMEs opting for an energy health check-up via an empanelled ESCO/auditor, will be reimbursed upto 90% of the cost of the energy health check-up by SIDBI. Further, SIDBI shall provide an additional incentive of upto 25% of the cost of the check-up in the form of an E-Rupi voucher. The voucher can be redeemed by MSMEs in part/full against purchase of green services/products (e.g., solar panels, solar water heaters, solar lanterns, electric vehicles, etc.) at pre-identified vendors. The E4E scheme is powered by National Payment Corporation of India’s (NPCI) E-Rupi platform which provides a targeted/purpose-bound, cashless and digital mechanism of delivering incentives. SIDBI has partnered with Yes Bank to develop the E-Rupi based solution, which is one of the first such initiatives for enterprises. Launched in Goa, the E4E scheme will be scaled pan-India in collaboration with leading OEMs across key green categories. This will create an ecosystem of Green vendors/merchants where MSMEs can redeem their E-Rupi based incentive vouchers.

Mr. Manguirish Pai Raikar, Chairman, ASSOCHAM Goa State Development Council, with urging the MSMEs to adopt green practices, also highlighted the preparedness of Industry bodies towards Greening the Enterprise Ecosystems in Goa and added that “Industry associations can serve as platforms for knowledge exchange and can foster collaboration among businesses to develop innovative solutions to environmental challenges”.

Mr. Sanjeev Joglekar, Member Secretary, Goa Energy Development Agency (GEDA), highlighted the pro-active steps of Goa to Go Green. Mr. Joglekar cited that Solar Rooftops on MSMEs have resulted in maximum share in Solar Energy production in Goa. He mentioned that GEDA looks forward to reap advantage of proactive & responsive SIDBI.

Mr. Sivasubramanian Ramann (CMD, SIDBI) , with highlighting the increasing importance of going green stated that, “Customers will increasingly ask MSMEs for their green credentials and certifications”. Further, highlighting SIDBI’s catalytic role in building a green MSME ecosystem in India, Mr. Ramann exclaimed, “SIDBI is launching 2 credit guarantee schemes for Rooftop Solar and Electric Vehicles to meet the national goals and help bankers finance towards such applications”. SIDBI has adopted 5 green missions in line with national priorities and emerging green opportunities – “Mission Solar, EV4ECO, Energy Efficiency, Waste 2 Envtt Taste, Nurture the Nature”. Across these 5 missions, SIDBI has developed preferential financing products for helping MSMEs go green. 

Mr. Sudin Dhavalikar (Hon’ble Minister for Power, New & Renewable Energy, Goa), outlining the Government’s Green vision, Hon. Minister Shri Dhavalikar exclaimed, “Our goal is to have 100% renewable energy use across all sectors by 2050”. Shri Dhavalikar also congratulated SIDBI on the launch of the E4E Program and expressed his confidence in the potential of E4E to kickstart adoption of green products/adoption by MSMEs in the state.
The event viz. “Solarising Goa and Launch of E4E Program” marked a significant milestone in fostering knowledge exchange, training, and networking among like-minded finance practitioners from banks, financial institutions and MSMEs. SIDBI continues to play a crucial role in fostering sustainability and gender inclusion in the Indian financial landscape, contributing to a resilient and green future.