Waaree Energies Limited, India’s largest manufacturer of solar PV modules, has established a collaboration with Ecofy, an NBFC backed by Eversource Capital, committed to providing green finance for climate-positive initiatives. Ecofy is committing Rs 100 crores into the partnership, showcasing confidence in Waaree’s capabilities and the renewable energy sector’s growth potential.
Complementing the government’s PM Surya Ghar Yojana 2024 and leveraging favourable market conditions, this partnership is expected to contribute to India’s renewable energy transition. Commenting on the collaboration, Kailash Rathi, Head of Partnerships & Co-Lending at Ecofy, said, “Our collaboration with Waaree signifies a milestone towards solar adoption at a time when the industry is at an inflection point. Over the past 15 months, Ecofy has empowered over 5000 rooftop solar customers. We have invested heavily in this segment enabling penetration through product innovation and instant approvals. As the country prepares for the peak solar season, the collaboration between Ecofy and Waaree is expected to act as a catalyst, and aid in accelerating solar adoption and penetration across diverse segments of society.”
Expressing enthusiasm for the collaboration, Pankaj Vassal, President of Sales at Waaree Energies Limited, said, “Our partnership with Ecofy represents progress towards democratizing solar power accessibility. By integrating our solar solutions with Ecofy’s financing platform, we are working towards removing barriers and aiding in accelerating the adoption of solar power across households and businesses. Ultimately, this is expected to empower more people to embrace the benefits of clean energy while collectively building a greener, more environmentally-conscious India.”
