News

Globally, climate change has made all countries to turn their attention towards clean and green energy. Recently NAMCO has started implementing a project to promote ‘Decentralized Renewable Energy’ (DRE) products, particularly solar powered products, for farm and non-farm sectors. The project is supported by GIZ, India and the Ministry of New and Renewable Energy, Government of India. The abundant availability of sun light has put India into the spot light for harnessing solar energy for power generation and thus achieving carbon neutrality. Alongside, Decentralized Renewable Energy (DRE) is also catching up the attention of the policy makers.
Through a scoping assessment NAMCO has identified the potential DRE technologies in multiple sectors including agriculture, dairy, fisheries, and salt production and non-farm sectors. NAMCO has commenced intensive efforts towards building awareness for the communities with a strategy of direct outreach in the Delta districts, particularly Thiruvarur, Nagapattinam and Mayiladuthurai and outreach through partner NGOs in other districts of Tamil Nadu. NAMCO have targeted to reach out to at least 750 – 1000 potential DRE end users in the next six months.
NAMCO intends to bring the best of technology providers to meet the diverse needs of people such as solar water pumps, solar dryers, solar freezers, and solar technologies for micro enterprises including tailoring units, rice hullers, oil mills, shops and other commercial establishments. These products and technologies cost anywhere between Rs. 30,000 to Rs. 200,000/- as one time investment. However, they are proven to provide immense economic benefits in the long term with a high return on investment.
Access to finance is often the biggest impediment hindering the communities in accessing these DRE products and technologies. Therefore, NAMCO is seeking to work in partnership with a reputed MFI with pan India presence in enabling access to credit for the potential DRE end users identified and promoted by NAMCO. NAMCO is of the view that this will be a win-win partnership mutually benefiting both institutions, enhancing business opportunities for the MFI while enabling NAMCO’s communities to gain access to the much needed finance.