Net Zero Summit

Ecofy and Tata Power Solar Systems Join Forces to Drive Solar Revolution in India’s Retail Sector

Partnership aims to finance solar solutions and pave the way for widespread adoption of clean energy

Ecofy, India’s green-only Non-Banking Financial Company (NBFC), has announced a strategic partnership with Tata Power Solar Systems Ltd, the country’s largest integrated solar energy company. The collaboration aims to address the climate finance gap in the Indian retail sector and promote the widespread adoption of clean energy solutions, particularly solar power.

Ecofy, committed to resolving the climate finance gap, will provide financial assistance to individuals and small businesses looking to procure solar solutions from Tata Power Solar Systems. The partnership will focus on financing solar rooftops, engineering, procurement, and construction (EPC) services, as well as other innovative solar products. These offerings will cater to new-age customers who actively embrace sustainable and natural modes of energy.

By joining forces, Ecofy and Tata Power Solar Systems aspire to pave the way for a comprehensive solar revolution in India. Their shared objective is to facilitate a seamless transition to solar energy and contribute to the nation’s goal of achieving a net zero-carbon footprint. Through the partnership, Ecofy plans to establish over 1,500 installations and expand its reach to more than 400 dealers, distributors, households, commercial spaces, and industries across seven states: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Karnataka, Telangana, and Goa.

Speaking about the collaboration, Govind Sankaranarayanan, Co-Founder & COO of Ecofy, expressed enthusiasm for the partnership’s potential impact. He highlighted the current capacity of Rooftop Solar, which stands at approximately 9 GW and is projected to grow at a 15% compound annual growth rate (CAGR) over the next five years. Sankaranarayanan also emphasized the thriving solar rooftop market and the government’s strong support for sustainable energy adoption. The partnership with Tata Power Solar Systems, a reputable industry leader, is expected to significantly contribute to the extensive adoption of solar energy in the country.

The collaboration between Ecofy and Tata Power Solar Systems holds great promise for driving the clean energy transition in India. With their combined expertise and resources, the two organizations are poised to make a significant impact in bridging the climate finance gap and promoting a sustainable and eco-friendly future for the country.