Fuel retailers bet on solar power with easy loans
Oil companies betting big on solar doesn't sound ironic any more. Setting up solar plants -either for generating electricity or steam - is no more a token of commitment to environment. Instead, it is making business sense. No wonder India's state-run fuel retailers are offering petrol pump owners easy loans to help them go green by setting up solar power units. Indian Oil Corporation is offering loan of up to Rs 5 lakh. Hindustan Petroleum and Bharat Petroleum too have joined the bandwagon on the back of government directives. But it is the economics of solar power that is making the scheme tick. There are nearly 52,000 petrol pumps in the country . Power supply from the grid in rural areas and the hinterland is patchy and only fills up the.....