Home Press Release Muthoot Finance Installs 25 KWp Solar Project for Kerala Museum

Muthoot Finance Installs 25 KWp Solar Project for Kerala Museum

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Muthoot Finance Installs 25 KWp Solar Project for Kerala Museum
  • Solar energy will contribute to 50% of the museum’s electricity requirements and help it save Rs. 5 Lakhs every year
  • The solar project will be used for the purpose of maintaining a cool climate to preserve the art in the museum

September 11, 2023: Muthoot Finance, India’s largest Gold Loan NBFC, has established a 25 KWp solar power plant at the Kerala Museum, one of the oldest art and history museums in Edappally, Kochi. The solar project for Kerala Museum was inaugurated on 7th September 2023 by Shri. George M George, Deputy Managing Director of Muthoot Finance, in line with the company’s commitment to preserving the environment through sustainable manufacturing practices. This newly installed solar power will account for half of the museum’s electricity needs and result in an annual savings of Rs. 5 Lakhs. 

Smt. Aditi Nayar, Director of Kerala Museum, Shri. Babu John Malayil, Deputy General Manager of Muthoot Finance, and Smt. Judy Hanson, Manager of Kerala Museum was also present during the occasion.

Kerala Museum is managed by the Madhavan Nair Foundation, a registered Public Charitable Trust established in 1984. It hosts a unique and antique compilation of contemporary Indian art forms, majority of which are reckoned as natural treasures. Most of the exhibits are contained in special climate controlled surroundings or glass boxes protecting them from extreme temperature and moisture in air, which incurred huge operational costs in terms of electricity bills for the museum. The newly installed solar project will help cover 50 percent of the electricity needs of the museum and will save around Rs. 5 Lakhs every year in electricity cost. 

Speaking on the occasion, Shri. George M George – Deputy Managing Director of Muthoot Finance said, “As we are a Kerala-originated company, we feel responsible for the growth of the state and preserving our culture. Kerala Museum is a great treasure trove of knowledge in terms of its contemporary art forms and as a center of visual art. Hundreds of people are able to access pictures and details of thousands of artifacts and objects. The solar project is a significant stride towards the sustainable future goals of the company as well as a support to the museum in preserving and carrying forward the knowledge and treasure to many more generations to come.”

Speaking on the occasion, Smt. Aditi Nayar – Director, Kerala Museum said, “We applaud the support from Muthoot Finance towards our museum. This initiative has helped us in safeguarding both the environment and our local culture for the betterment of our future generations. Given ours is a heritage museum and has been there for more than 39 years, we were mindful that while installing the panels the heritage look of the museum doesn’t get spoiled. We have installed panels on the roof terrace at zero level height. The new solar power project will help cover the entire operation cost of the art museum of Kerala History Museum. It will not only help us cost-saving, but we can now contribute more towards nature and sustainability as well.”

As part of its CSR initiatives, the key focus areas for Muthoot Finance have always been on Education, Health, and Environment (EHE). In the past, the company has supported various environment-friendly initiatives, including distributing solar-based home lighting kits to 50 tribal families in Mysore in association with the Beluku Foundation and donating 450 solar lamps to underprivileged tribal children in Pune, Maharashtra.

About Muthoot Finance 

Muthoot Finance is the flagship company of The Muthoot Group which has 20 diversified business divisions. With 5000+ branches, the Group serves over 2.5 Lac customers every day. Muthoot Finance is India’s largest gold loan NBFC and India’s No.1 Most Trusted Financial Services Brand, according to the Brand Trusted Report. It is a reputed ‘Systemically Important Non-deposit taking NBFC’. As part of the core business, Muthoot Finance provides loans secured against household gold jewellery at highly affordable rates and amazing product features. Globally, the Group has presence across, USA, UK, UAE, Costa Rica, Nepal and Sri Lanka. For more details please visit: www.muthootfinance.com

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