~ This strategic partnership aims to leverage the tailwinds in the renewable energy segment, transforming residential & small C&I rooftop solar with innovative financing solutions ~
Mumbai, 27 November 2024: 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), one of India’s leading names in the solar power ecosystem with a legacy spanning four decades and a commanding presence across the global energy market. 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.
Commenting on the development, Rajashree Nambiar, Co-founder, MD & CEO, Ecofy said, “The convergence of government initiatives, technological progress, and rising environmental awareness has created the perfect storm for solar adoption. Our partnership with SWELECT blends financial innovation with technical expertise. By combining our digital-first lending approach with SWELECT’s manufacturing and distribution strengths, we’re not just offering financing solutions – we are paving the way for households & MSME’s in South India to achieve energy independence.
Also commenting on the partnership, Mr R Chellappan, MD, SWELECT Energy Systems Ltd., added, “With four decades of expertise in the energy sector, we recognize that financing remains a critical barrier for the masses when it comes to solar adoption. Our collaboration with Ecofy addresses this challenge head-on. This partnership embodies our commitment to making sustainable energy accessible and affordable for every household in the region.”
