Ecofy, an NBFC backed by Eversource Capital, has tied up with Mahindra Solarize, a supplier of options within the renewable power sector, to present financing for rooftop solar installations.
This collaboration within the retail section will give Ecofy entry to over 50 sellers in Maharashtra, Madhya Pradesh, Gujarat and Rajasthan, increasing its potential buyer base by greater than 5000 clients, the NBFC stated.
Rajashree Nambiar, Co-Founder and CEO, Ecofy stated, “ 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, stated, “ 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.”
