The CLIMAFIX Summit is India’s largest climate startup summit, organized by EAI & Energy Consortium – IIT Madras. Shankar Sivan of Welfund shares his thoughts on Digital for Decarbonization at CLIMAFIX Summit 2022, Nov 25 & 26, 2022, at the IIT Madras Research Park, Chennai.
Venkatesh Modi, Blume Ventures moderated the session (Watch their presentation – here)
Other panel participants were:
Sumanth Selvarasu – Buyofuel (Watch their presentation – here)
Bhaskar R – Datasee.AI (Watch their presentation – here)
Akanksha Priyadarshini – Aurassure (Watch their presentation – here)
In the pursuit of sustainable energy solutions, rooftop solar emerges as a source of promise, offering both environmental benefits and economic savings. However, the widespread adoption of rooftop solar faces a significant hurdle: the lack of accessible and affordable financing options. This article explores how WealthFund is pioneering a transformative approach to financing rooftop solar projects.
Meet Shankar Sivan: The Driving Force Behind WealthFund
Shankar Sivan, with a background in mechanical engineering and corporate experience at Ashok Leyland and PricewaterhouseCoopers, brings a unique blend of technical expertise and business acumen to WealthFund. His journey reflects a deep commitment to innovation and sustainability.
Unveiling the Challenges of Rooftop Solar Financing
Shankar sheds light on the challenges hindering rooftop solar financing, particularly for small-scale projects. The lack of standardization in rooftop installations poses significant obstacles for lenders, making underwriting and risk assessment complex.
WealthFund’s Solution: A Digital Platform for Rooftop Solar Financing
WealthFund’s digital platform aims to streamline the financing process for rooftop solar projects by leveraging technology to mitigate transaction costs. Shankar envisions a comprehensive ecosystem encompassing lenders, engineers, and other stakeholders.
Integration with the Open Credit Enablement Network: Unlocking Access to Capital
By integrating with the Open Credit Enablement Network, WealthFund aims to revolutionize lending in India. API integrations with multiple lenders promise to democratize access to finance for rooftop solar projects.
Tailored Solutions for Solar Financing Challenges
WealthFund offers bespoke solutions to address the unique challenges of solar financing, including buyback guarantees and performance guarantees. These initiatives aim to de-risk investments and instill confidence in lenders.
WealthFund’s Impact on Rooftop Solar
With a growing roster of lenders and a burgeoning pipeline of loan applications, WealthFund is ready to make a significant impact on the rooftop solar landscape. Shankar’s vision of a sustainable future powered by accessible financing serves as a source of hope.
