Indian organizations win green energy Oscars

Bangalore-based Technology Informatics Design Endeavour (TIDE) was adjudged with Energy Champion 2008 at a glittering Ashden awards ceremony held in London on Thursday for its role in transforming small businesses by encouraging them to use safer and cleaner energy-efficient woodstoves and kilns.

Another Indian organisation, Uttar Pradesh-based Aryavart Gramin Bank (AGB), was also awarded with 20,000 pounds for the prize, dubbed the green energy Oscars. AGB was selected for pioneering a sustainable energy project in the state.

The prize was presented to N K Joshi, Chief Executive Officer and Chairman of AGB, by Kenyan Nobel Prize laureate Wangari Maathai.

AGB is expanding access to electricity in rural villages by offering small loans to its off-grid customers to help them buy solar home systems (SHS). The rural bank has a bulk supply and installation agreement with Tata-BP Solar.

The scheme is promoted through 289 branches by holding ‘credit camps’ where customers are invited to sign up. So far 8,000 systems have been installed and 10,000 customers have joined the scheme, benefiting over 40,000 people.