Solar-Powered ATMs Installed in Russia

• The first Russian solar-powered ATMs (drawing their energy from 16 solar batteries set on their roof) have just been installed in the Siberian region of Tuva.

• The members of a Russian archaeological expedition based in Tuva will be able to access various banking services to move along with them on their scientific journey. The ATM, managed by Sberbank, should also allow access to a number of other services, including bill payments.

• Solar energy has long been preferred in this region as the price of electric power is especially high and power supply has been decentralised on more than 30% of Tuva’s territory. Several other ATMs should be installed.

Source: rt.com

• Each ATM costs 4,000 dollars. They are viewed as means to improve access to banking services in Russia globally.

• Solar-powered and itinerant ATMs have proved to be conclusive, cost-effective and environmentally-friendly alternatives. They have also been adopted in India (with nearly 450 machines installed and about 10,000 to be implanted by 2014). In December 2009, IndusInd Bank, for instance, launched its first solar ATMs (see January-February 2010 Insight).

• The success of these devices in India is such that a local start-up (Vortex Engineering) focusing on designing and implementing them in rural areas, has witnessed a significant increase in their orders: 400 “Gramateller” delivered to the State Bank of India in 2010-2011 and several other orders now registered.