US-based Marman Climate-Smart Finance Inc. invests in India's rooftop solar projects

SONOMA, Calif. - Sept. 10, 2024 - PRLog -- Marman Climate-Smart Finance Inc. ("Marman"), a US-based company investing in sustainable & green finance in the emerging markets, has successfully deployed its third fund in India's fast-growing rooftop solar assets ("RTS").

The fund raise and deployment was led by Marman's India entity - Marman Climate-Smart Technology Private Limited ("Marman India"). Co-founder Anurag Sood said, "Marman India has demonstrated the strong product-market fit of Marman's innovative climate investments and finance to India's underserved Small & Medium Enterprises (SMEs), startups and consumers adopting innovative and viable climate-smart technologies. Its success will be replicated gradually to newer cleantech segments and other emerging markets too."

Co-founder Deepak Gupta mentioned, "Marman India partners with the local SMEs across India who have the proven expertise to deploy cleantech assets, but lack the financial backing required to scale-up such technologies. There are also several unrated C&I (Corporate and Institutional) energy consumers in India, that are looking for a PAYGO (Pay As You Go) solution to adopt the viable rooftop solar technology today, as they are stretched for financing. Marman India targets to plug this gap in the market between the underserved renewable energy producers and consumers."

The successful deployment of its third fund within just a day of its launch, is a strong testimony to the dire need of innovative solutions to help India achieve its climate goals. The Indian government is also actively pushing for faster rooftop solar adoption through initiatives such as the PM Suryoday Yojana 2024, particularly among the bottom of the pyramid economic strata that remains underserved and excluded from the transition towards clean energy.

Encouraged by a strong response to the first three funds, Marman will continue launching more India cleantech focused funds that cater to the underserved segments. Marman targets to grow its India portfolio to US$1 billion by 2030.

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