Karnataka based Mangalore Cooperative Town Bank is perhaps the only cooperative body in the country that meets energy requirements through a captive solar power plant installed at its head office in Mangaluru.
Talking to this correspondent Chairman of the bank Nakul Pai B.H. said “We are celebrating the 98th year of the bank’s existence and we have installed a 15 KW solar rooftop power plant with a initial cost of Rs 12 lakhs to promote the idea of renewable energy” he said.
The plant generates 1,800 unit per month and 21,600 per year. This enables the bank to save more than Rs 1.50 kah per year. As per the agreement, Mangaluru based company M/S Solar will not charge any extra amount for 25 years, Pai said to this correspondent on the phone.
”The actual consumption of the bank’s head office is around 1700 unit a month and the power generated will be directly supplied to Mangalore Electricity Supply Company Limited (MESCOM). At the end of the month, this will be included in our electricity bill,” Pai added.
The Mangalore Cooperative Town Bank is 98 years old having five branches in Karnataka state. Thousands of people are its members with deposits of Rs 75 crore. The bank has earned a profit after tax of Rs 40 lakh in 2016-17. The bank disburses 12 percent dividend to its members.