GEF PVMTI Aqua Solar (P) Ltd.

completed

The company plans to create a franchisee network to use PV pumps in order to extract water which it will then purify, package, and retail as drinking water to domestic and commercial customers. The project aims to demonstrate the competitive use of PV-powered water pumping technology to produce products close to final point of consumption, especially when the grid is unavailable or unreliable.The project is financed by the IFC/GEF Photovoltaic Market Transformation Initiative (PVMTI). PVMTI aims to address market barriers by making available appropriate financing, stimulating business activity, and accelerating PV penetration to achieve reductions in greenhouse gases. By harnessing the innovation and discipline of the private sector in designing and implementing PV projects, IFC is helping to shift the design and financing of PV market activity to a more sustainable and replicable private sector context.By investing PVMTI funds in the project, IFC intends to support the demonstration of a successful and replicable business model for the Indian, as well as other developing country, PV markets.