SELCO

SELCO is a company founded by Harish Hande in 1995 to provide solar electricity solutions to underserved communities in India. Initially focused on selling and servicing photovoltaic (PV) systems in Karnataka, SELCO faced financial challenges when attempts to scale up through a franchised dealer network proved detrimental. By the early 2000s, the company needed to restructure, aided by the International Finance Corporation (IFC), which allowed SELCO to remain true to its mission and maintain a motivated core team.

SELCO evolved by creating innovative solar solutions tailored to the specific needs of its target market, often redesigning off-the-shelf components for optimal use by urban and rural poor populations. The company also focused on developing creative financing solutions in partnership with banks and microfinance institutions, making solar technology more accessible to low-income groups.

Despite having provided energy solutions to over 100,000 households, SELCO faces a significant dilemma: how to extend its impact. With over 400 million individuals living in poverty in India, the company's leaders must decide whether to deepen their efforts by designing solutions for even poorer segments of the population or to expand geographically beyond their current areas in Karnataka and Gujarat.