Catalytic financing will help solarize rural bank branches and extend clean energy to underserved regions
SANTA CLARA, Calif., 25 November 2025 — Miller Center Capital, in partnership with fund manager Beneficial Returns, has provided catalytic financing to E-Hands Energy, a Chennai-based renewable energy enterprise expanding decentralized solar power to rural communities across India.
Founded in 2009, E-Hands Energy delivers solar and hybrid systems that replace costly diesel generators and unreliable grid power in underserved regions. Its B2B model powers rural banks, farmer-producer organizations, schools, and small businesses, expanding reliable access to electricity and financial services for millions of people. To date, E-Hands has installed over 1,100 systems, deployed 10MW of clean energy, and electrified 61 villages.
E-Hands Energy has a long relationship with Miller Center, completing the flagship Accelerator program in 2018. In August 2020, at the height of the COVID-19 lockdowns, Miller Center Capital extended an emergency loan to help E-Hands retain engineers, pay critical vendors, and restore power in rural communities; that loan was fully repaid.
Raghuraman Chandrasekaran, founder and CEO of E-Hands Energy, began his career in the corporate sector before turning to rural electrification after witnessing energy poverty firsthand in India’s Himalayan border communities.
“Reliable power changes everything for rural communities,” said Chandrasekaran. “With this support, we can accelerate our energy transition initiatives with rural banks, farmers, and microenterprises that are the backbone of India’s rural economy.”
India’s banking regulations mandate that 25% of new branches open in rural centers, which face routine cuts in power supply. E-Hands’ solar installations keep banking services reliably available. Their systems already support over 6.8 million customers, keep ATMs operational, and eliminate fossil-fuel generators across hundreds of sites.
The catalytic financing will scale solar across additional rural branches, ensuring reliable, zero-diesel power for banks serving low-income communities and expanding access to savings, credit, and digital payments.
“Banks can’t serve rural customers if the lights keep going out,” said Paul Belknap, Director of Impact Investing at Miller Center for Global Impact. “E-Hands shows how catalytic capital can accelerate solutions that expand banking services and cut diesel dependence at the same time.”
We anticipate this loan will serve as a model to crowd in additional investors by demonstrating the investability of the business and the efficiency of the transaction structure. This loan reflects Miller Center Capital’s focus on catalytic capital for locally-led enterprises driving climate resilience and economic inclusion. Working with Beneficial Returns, the fund addresses financing gaps that limit high-impact social enterprises in the Miller Center Entrepreneur Network from scaling.
About Miller Center Capital
Miller Center Capital is the impact investing arm of Miller Center for Global Impact at Santa Clara University. Through catalytic loans, the fund supports enterprises that reduce poverty by advancing women’s economic power and building climate resilience. Founded in 1997, Miller Center has supported over 1,500 social enterprises in more than 100 countries.
About Beneficial Returns
Impact investment manager Beneficial Returns finances social enterprises working to alleviate poverty and protect the natural environment. Founded in 2016, Beneficial Returns uses capital to catalyze systemic change in emerging markets. Headquartered in San Francisco, the firm brings together a diverse global team with experience across finance, social enterprise, and development.
About E-Hands Energy
Based in Chennai, E-Hands Energy designs and installs decentralized solar and hybrid systems that bring reliable, renewable power to rural institutions and communities across India. Since 2009, the company has installed over 1,100 systems, replacing diesel and kerosene with clean energy to improve access to electricity, banking, and education.
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Media Contact:
Karen Carter
Director of Marketing Communications
Miller Center for Global Impact
kcarter1@scu.edu
Investment Contact:
Paul Belknap
Director of Impact Investing
Miller Center for Global Impact
pbelknap@scu.edu
