Waaree Energies Limited Teams Up with Ecofy to Boost Solar Adoption in India

Collaboration aims to accelerate solarization of rooftops and promote clean energy accessibility

In a strategic move set to further propel India’s renewable energy landscape, Waaree Energies Limited, the country’s leading manufacturer of solar PV modules, has forged a collaboration with Ecofy, a prominent NBFC supported by Eversource Capital, dedicated to financing eco-friendly endeavors.

This collaboration, backed by Ecofy’s infusion of Rs 100 crores, underscores the confidence in Waaree’s prowess and the burgeoning potential of the renewable energy sector. Leveraging the momentum of the government’s PM Surya Ghar Yojana 2024 and favorable market conditions, the partnership aims to expedite India’s transition towards renewable energy.

With a focus on solarizing over 10,000 rooftops across households and MSMEs, aligned with the objectives of the PM Surya Ghar Yojana 2024, the initiative seeks to make clean energy more accessible and affordable, thus contributing to the nationwide agenda of solarizing residences and small businesses.

Kailash Rathi, Head of Partnerships & Co-Lending at Ecofy, hailed the collaboration as a pivotal step towards solar adoption, citing Ecofy’s track record of empowering over 5000 rooftop solar customers. He emphasized the partnership’s potential to accelerate solar adoption across various societal segments, especially as the country braces for the peak solar season.

Pankaj Vassal, President of Sales at Waaree Energies Limited, expressed optimism about the partnership’s role in democratizing solar power accessibility. By integrating solar solutions with Ecofy’s financing platform, the collaboration aims to dismantle barriers hindering solar adoption, thus enabling more individuals and businesses to embrace clean energy alternatives.

Together, Waaree Energies Limited and Ecofy are poised to play a pivotal role in advancing India’s energy independence goals while facilitating a transition towards a greener and more cost-effective lifestyle for households and businesses alike.