Corporate Social Responsibility (CSR) funds can be used as a source of financing for the PMKUSUM Component A scheme in India. The companies that are required to contribute a portion of their profits towards CSR activities as per the Companies Act 2013 can choose to fund renewable energy projects under PMKUSUM Component A.
Under the PMKUSUM Component A, companies can provide funding for the installation of grid-connected solar photovoltaic (PV) power plants on the farms of farmers. The funds from CSR activities can be used to cover the cost of the solar panels, inverters, battery banks, and other equipment required for the solar power plant.
In addition to providing financial support, companies can also provide technical support, mentorship, and training to farmers to help them set up and manage the solar power plants. This not only helps to promote sustainable energy practices, but also helps to empower rural communities and create employment opportunities.
Therefore, Corporate Social Responsibility (CSR) funds can play a significant role in financing PMKUSUM Component A in India and contribute to the growth of the renewable energy sector.
