Ecofy partnered with Mahindra Solarize to provide collateral-free solar rooftop loans

solar rooftop

Ecofy, an NBFC supported by Eversource Capital that provides green finance for climate-positive segments, announces a collaboration with Mahindra Solarize, a provider of technologically superior and creative renewable energy solutions. This partnership for rooftop solar financing and installation in the retail segment would provide Ecofy with access to over 50 dealers in Maharashtra, Madhya Pradesh, Gujarat, and Rajasthan, increasing its potential client base by over 5000 people.

Nowadays, Mahindra Solarize seeks to safeguard and preserve the environment by employing green and clean technologies, while also providing the highest quality solar products to proactive renewable energy seekers.

Commenting on the partnership, Rajashree Nambiar, Co-Founder and CEO of Ecofy said, “The market for solar rooftops has a lot of potential, and the government is encouraging people to adopt sustainable energy at their homes and businesses. We are happy to collaborate with Mahindra Solarize and we strongly believe that our shared commitment, along with their sector expertise and cutting-edge technologies, will help us reach every Indian household. This partnership aims to install 500 solar rooftops with a credit line of 50 crores.”

Rakesh Singh, CEO & Executive Director of Mahindra Solarize, said, “We are excited to partner with Ecofy as it allows us to offer our solutions to customers along with access to affordable financing. The solar rooftop market holds huge growth potential, and one can expect a total capacity addition of 18.8 GW in the next five years at an average growth rate of 40% (Bridge to India Report). The Solar rooftop installation should lower monthly electricity costs by about 70% for homes and businesses. Together, we can help more people affordably transition to renewable energy and become energy independent.”

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