News In Brief Nov 27: Ecofy Partners With Swelect, TOYO Secures $150 Mn Contract

By Saur News Bureau/ Updated On Wed, Nov 27th, 2024

News In Brief: Ecofy Partners With Swelect, TOYO Secures $150 Mn Contract

Ecofy Partners With Swelect Energy To Increase Rooftop Solar Adoption Across South India

Ecofy, India’s green-only NBFC backed by Eversource Capital and committed to financing India’s green transition has announced a partnership with Swelect Energy Systems Limited (formerly known as Numeric Power Systems Limited). This collaboration combines Ecofy’s digital lending expertise with SWELECT’s manufacturing and distribution strengths to democratize solar energy access across South India.

Moreover, the partnership is strategically aligned with the government’s PM Surya Ghar initiative and aims to accelerate the adoption of rooftop solar installations by providing accessible financing solutions. By leveraging Ecofy’s prominent position in the rooftop solar space and Swelect’s established presence in the southern markets, the alliance seeks to create a seamless ecosystem for customers seeking to transition towards sustainable energy solutions.

TOYO Secures $150 Million Contract to Supply Solar Cells to a Leading Solar Module Manufacturer

TOYO Co., Ltd (TOYO), a solar solution company, is pleased to announce the execution of a significant contract valued at $150 million to supply high-efficiency solar cells to a prominent solar module manufacturer. This landmark agreement underscores the Company’s commitment to advancing sustainable energy and supporting the global transition towards renewable resources. Under the terms of the agreement, TOYO will deliver its cutting-edge solar cells to support the customer’s expanding solar module production both in India and in the U.S. The contract will enable TOYO to leverage its state-of-the-art manufacturing capabilities and innovative technologies both in Vietnam and Ethiopia to deliver premium solar cells that enhance the efficiency and performance of solar modules.

Iberdrola And Gres Panaria Portugal Enter Solar PPA For 92 GWh Energy Project

Iberdrola and Gres Panaria Portugal, the leading Portuguese ceramics company, owner of the Margres, Love Tiles and Gresart brands, signed a Power Purchase Agreement (PPA) to begin in 2025 that will guarantee the supply of photovoltaic solar energy for the next 10 years.

It will provide a total of 92 GWh of clean energy during the term of the contract, allowing Gres Panaria to reduce its carbon footprint and advance its commitment to sustainable practices, essential in a sector with a growing environmental responsibility. It will also ensure energy supply stability for the long term.