IIFL Samasta Finance Ltd on Tuesday signed a Memorandum of Understanding (MoU) with SELCO Foundation Bangalore for the Implementation of customized sustainable energy solutions in streets, schools, Anganwadi, and households in 5 villages of HD Kote Block, Karnataka.

The MoU was signed by both organisations in the presence of Dr. Shalini Rajaneesh, IAS, Additional Chief Secretary to Government Planning, Programme Monitoring and Statistic Department, and Mr. Mahesh K.V, CSR Advisor to Government of Karnataka. 

The purpose of this project is to develop renewable energy-based model villages where solar energy is used and integrated in the daily routine of rural communities in 5 villages of HD Kote Block.

Under this project, 95 Solar street lights and 2 high mast lights will be installed in these 5 villages. This project will set up solar-powered digital classrooms in 10 Govt schools (introducing modern teaching methodologies and content in the classroom) and solar-powered digital classrooms in 05 Anganwadis. Additionally, 200 households will also be provided with reliable and sustainable basic energy access through renewable energy. This will prevent the households from depending on fuels like kerosene & candles and will have a direct impact on the health of the household members, more importantly on the children while studying.

IIFL Samasta Finance Limited, an IIFL Group company, is a financial institution committed to working towards women’s economic empowerment. Since its inception in March 2008, IIFL Samasta has been providing innovative and affordable financial products to women from the unbanked sections in society in both rural and semi urban areas. Today as the organization caters to 16 states and 1 union territory across India, IIFL Samasta with its wide array of responsible financial products and services acts as a catalyst for sustainable and inclusive economic growth.

IIFL Samasta Finance Limited under its CSR initiatives has taken various community development programs like: Livestock Development Program, providing scholarship for meritorious girl students, youth skills development, Training rural women on financial literacy etc.

SELCO Foundation is an organization working since 2010 to systematically identify the diverse needs of underserved communities, understand and define the role of sustainability and energy in these communities thereby creating and supporting innovative and sustainable solutions that positively impact health, well-being, education and livelihoods and work towards the alleviation of poverty.