Ecofy Joins Forces With Luminous To Accelerate Solar Adoption

BluPine Energy and Dalmia Cements Ink Solar Project Deal

Indian NBFC Ecofy has now announced its partnership with Luminous Power Technologies, an energy solutions industry. The collaboration with Luminous aims to focus on the financing landscape for renewable energy projects, especially solar power projects.

With the introduction of the PM Surya Ghar Yojana 2024, favorable market conditions and governmental support, the partnership could make substantial contributions in rooftop solar and small utility projects. Moreover, with the availability of subsidies and declining costs of solar panels, the collaboration could benefit rooftop solar installations.

“We are thrilled to announce our partnership with Luminous Power Technologies, focused on simplifying financing for sustainable energy projects. Over the past 17 months, Ecofy has efficiently processed over 20,000 rooftop solar applications, showcasing our strong commitment to sustainable energy solutions,” said Swapnil Wakade, Business Head – Residential Rooftop Solar at Ecofy, while speaking on the partnership.

Commenting on Luminous’s new solar manufacturing factory in Rudrapur he said, the manufacturing facility has a significant role as a major player in the solar energy sector, with a comprehensive ecosystem covering manufacturing, distribution, and installation, he added on the new collaboration.

Amit Shukla, Senior VP & Business Head, Energy Solutions, Luminous Power Technologies said, “This partnership with Ecofy brings us one step closer to the mission of increasing the share for clean energy solutions. Ecofy has a growing share in the financing industry, which allows us to extend our innovative solar solutions for powering homes and businesses.

This strategic alliance underscores their commitment to sustainability and represents a significant step towards accelerating India’s transition to a cleaner and more environmentally conscious energy ecosystem.

With this Ecofy will also be hosting local events to educate dealers on the benefits and opportunities in the rooftop solar segment. These events also aim to strengthen relationships with local partners.