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Selco India is a successful solar energy services company that sells small-scale photovoltaic systems. Headquartered in Bangalore, SELCO has 23 branch offices in southern India. The company serves more than 70,000 households with clean and efficient lighting and employs more than 120 people.

Recently, the Schwab Foundation named Harish Hande, Managing Director of SELCO, the Indian Social Entrepreneur of the Year 2007 and presented him with the award during the India Economic Summit. Under Harish’s management, SELCO India has pioneered access to rural solar electrification for below poverty line families through a combination of customized home lighting systems, innovative doorstep financing, and an understanding of the market needs of different user groups. The company has successfully demonstrated that a for-profit but socially oriented enterprise can accomplish significant Triple Bottom Line impacts.

The Need

There are approximately 10 million unelectrified households in the four southern Indian states of Andhra Pradesh, Tamil Nadu, Karnataka and the northern part of Kerala.  Kerosene and dry cell batteries are now the most common source of light and electricity in this area. 

E+Co Value Added

E+Co began working with SELCO in 1995.  It assisted in the establishment of its headquarters in Bangalore and developed an expansion plan to allow the company to reach more remote areas of India.  E+Co also made an equity investment in the company to support the expansion plan.  In 2007, E+Co assisted SELCO India with the recapitalization of its business and approved a second investment of US$150,000.