Ecofy partners with SWELECT Energy to drive rooftop solar adoption in south India

CHENNAI: Ecofy, India's green-only NBFC backed by Eversource Capital, has announced a partnership with SWELECT Energy Systems Limited, one of the country’s leading names in the solar power ecosystem.

The partnership is strategically aligned with the union government's PM Surya Ghar initiative and aims to accelerate the adoption of rooftop solar installations by providing accessible financing solutions. By leveraging Ecofy's prominent position in the rooftop solar space and SWELECT's established presence in the southern markets, the alliance seeks to create a seamless ecosystem for customers seeking to transition towards sustainable energy solutions.

Rajashree Nambiar, Co-founder, MD and CEO of Ecofy said that the convergence of government initiatives, technological progress, and rising environmental awareness has created the perfect storm for solar adoption. Our partnership with SWELECT blends financial innovation with technical expertise. By combining our digital-first lending approach with SWELECT’s manufacturing and distribution strengths, we're not just offering financing solutions – we are paving the way for households and MSMEs in South India to achieve energy independence,” he said.

SWELECT Energy Systems Ltd MD R Chellappan said that with four decades of expertise in the energy sector, “We recognize that financing remains a critical barrier for the masses when it comes to solar adoption. Our collaboration with Ecofy addresses this challenge head-on.”