Mumbai: Ecofy, an Eversource Capital-backed NBFC that provides green finance for climate-positive segments, has announced a partnership with Mahindra Solarize, a provider of technologically superior and creative renewable energy sector. This collaboration for rooftop solar financing and installation in the retail segment will give Ecofy access to over 50 dealers in the states of Maharashtra, Madhya Pradesh, Gujarat and Rajasthan, expanding its potential customer base by more than 5000 customers.

Today Mahindra Solarize strives to protect and preserve the environment through the use of green and clean technology while also supplying the best in quality solar products to proactive renewable energy seekers.

Commenting on the partnership, Ecofy CEO and co-founder Rajashree Nambiar said, “The market for solar rooftops has a lot of potential, and the government is encouraging people to adopt sustainable energy at their homes and businesses. We are happy to collaborate with Mahindra Solarize and we strongly believe that our shared commitment, along with their sector expertise and cutting-edge technologies, will help us reach every Indian household. This partnership aims to install 500 solar rooftops with a credit line of 50 crores.”

Mahindra Solarize CEO and executive director Rakesh Singh said, “We are excited to partner with Ecofy as it allows us to offer our solutions to customers along with access to affordable financing. The solar rooftop market holds huge growth potential, and one can expect a total capacity addition of 18.8 GW in the next five years at an average growth rate of 40 per cent (Bridge to India Report). The Solar rooftop installation should lower monthly electricity costs by about 70 per cent for homes and businesses. Together, we can help more people affordably transition to renewable energy and become energy independent.”