SELCO FOUNDATION

SELCO,s valuable efforts, spanning 45 branches in two decades, in delivering energy services to low income families places it in a position to experience firsthand the impact of an underdeveloped ecosystem while delivering a solution. Created in 2010, SELCO Foundation is thus a response to the gaps identified in an under developed ecosystem as experienced by SELCO.SELCO Foundation, in its six years of operation, has grown from a hand full of employees to 42 employees spread across 3 different locations. Some of the achievements are highlighted below:1. Finance: Addressing the issues related to access to finance the foundation closely engages with financiers, including state and national apex authorities. Training programs have been conducted with bankers at rural, state and national level. The foundation has also facilitated financing for small entrepreneurs, developed innovative financing models for the informal sectors such as rental models, bank guarantees, etc.2. Policy: SELCO Foundation leverages the practitioner perspective to influence policy at the local, state and national level. For example, in the state of Karnataka, the team was able to reduce the cost of a solar system by advocating for the removal of Value Added Tax on panels and inverters. Additionally, the Foundation was instrumental in setting up the Clean Energy Access Network (CLEAN), a network for Decentralised Renewable Energy entrepreneurs that lobbies government for sector supportive policy. Leaning on data and years of experience in the field, the foundation has been involved in energy planning at the state level with the Karnataka Electricity Regulatory Commission (KERC). The foundation is engaged with key ministries and departments at the national and state level, including the Ministry of New and Renewable Energy, Ministry of Small and Medium Enterprise, Ministry of Skill Development, etc