VCF-SC support enables Palnadu Solar Power to set up 5.5 MW grid-connected plant in Andhra Pradesh
VCF-SC support helped Palnadu Solar Power Pvt. Ltd. establish a 5.5 MW grid-connected solar plant in Andhra Pradesh with ₹15 crore equity support in 2015.
GS1GS2GS3PIBGS3Venture Capital Fund for Scheduled Castes (VCF-SC)Social Justice & Empowerment schemesSolar energy projects
What happened: VCF-SC funding enabled a 5.5 MW grid-connected solar plant
Palnadu Solar Power Pvt. Ltd., an energy enterprise based in Guntur, Andhra Pradesh, established a grid-connected solar power plant of capacity 5.5 MW. The Ministry of Social Justice and Empowerment reported that the Venture Capital Fund for Scheduled Castes (VCF-SC) provided the key early financial support that helped the project reach establishment and commissioning.
According to the PIB release, the VCF-SC financial assistance was ₹15 crore provided in 2015 through the Venture Capital (Equity with Optionally Convertible Debentures) route. The enterprise then used the assistance to set up a solar power generation facility that supplies clean electricity.
Background and earlier position: VCF-SC as targeted capital for Scheduled Caste entrepreneurs
VCF-SC is presented in the release as a mechanism that supports Scheduled Caste entrepreneurs to build sustainable businesses. In this case, the entrepreneur was Ms. Sujatha Seelam, who established Palnadu Solar Power Pvt. Ltd. in Guntur, Andhra Pradesh.
What changed now: solar infrastructure creation tied to social justice finance
