Waaree Energies Restricted, India’s largest producer of photo voltaic PV modules with the most important mixture put in capability of 12 GW, as of June 30, 2023 (Supply: CRISIL Report), has established a collaboration with Ecofy, an NBFC backed by Eversource Capital, dedicated to offering inexperienced finance for climate-positive initiatives. Ecofy is committing Rs 100 crores into the partnership, showcasing confidence in Waaree’s capabilities and the renewable vitality sector’s progress potential.
Complementing the federal government’s PM Surya Ghar Yojana 2024 and leveraging beneficial market situations, this partnership is anticipated to contribute to India’s renewable vitality transition. By synergizing Waaree Energies Restricted’s photo voltaic experience with Ecofy’s digital financing options, via the initiative we purpose to speed up the solarisation of over 10,000 rooftops throughout households and MSMEs, as envisioned within the PM Surya Ghar Yojana 2024. By this partnership, we intend to make clear vitality extra accessible and reasonably priced for householders, aiding in reaching the nationwide goal of solarizing households and MSME’s.
Kailash Rathi, Head of Partnerships & Co-Lending at Ecofy, added, “Our collaboration with Waaree signifies a milestone in the direction of photo voltaic adoption at a time when the business is at an inflection level. Over the previous 15 months, Ecofy has empowered over 5000 rooftop photo voltaic clients. We’ve got invested closely on this phase enabling penetration via product innovation and prompt approvals. Because the nation prepares for the height photo voltaic season, the collaboration between Ecofy and Waaree is anticipated to behave as a catalyst, and help in accelerating photo voltaic adoption and penetration throughout various segments of society.”
Pankaj Vassal, President of Gross sales at Waaree Energies Restricted, expressed enthusiasm for the collaboration, stating, “Our partnership with Ecofy represents progress in the direction of democratizing solar energy accessibility. By integrating our photo voltaic options with Ecofy’s financing platform, we’re working in the direction of eradicating obstacles and aiding in accelerating the adoption of solar energy throughout households and companies. In the end, that is anticipated to empower extra folks to embrace the advantages of fresh vitality whereas collectively constructing a greener, extra environmentally-conscious India.”
Waaree Energies Restricted and Ecofy count on to play a big position in reaching India’s vitality independence objectives whereas aiding households in embracing a greener, less expensive way of life.