State Bank of India (SBI) is to
roll out over 300 solar-powered ATMs from Indian technology vendor
Vortex Engineering across the country. SBI has ordered 545 ATMs in
total, 300 of which will be solar-powered and developed in
conjunction with IIT Madras.
According to Vortex, a conventional
ATM consumes around 1,000 watts of power and requires an
air-conditioned environment which adds another 1,500 watts. In
contrast, solar-powered ATMs consume less than 100 watts of power
and do not require air conditioning.
Vortex Engineering CEO Vijay Babu
said: “With an ATM penetration of about 0.04 per 1,000 people in
India, there is a huge need for rural ATMs. With this solar
innovation becoming a viable option, Vortex looks forward to
revolutionising the rural ATM market.”