Ecofy, an NBFC backed by Eversource Capital, has tied up with Mahindra Solarize, a provider of solutions in the renewable energy sector, to provide financing for rooftop solar installations.
This collaboration in the retail segment will give Ecofy access to over 50 dealers in Maharashtra, Madhya Pradesh, Gujarat and Rajasthan, expanding its potential customer base by more than 5000 customers, the NBFC said.
Rajashree Nambiar, Co-Founder and CEO, Ecofy said, “ We strongly believe that our shared commitment, along with Mahindra Solarize’s 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 crore.”
Rakesh Singh, CEO & Executive Director, Mahindra Solarize, said, “ 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). Together, we can help more people affordably transition to renewable energy and become energy independent.”