Federal Bank has partnered with Ecofy, a green-focused NBFC backed by Eversource Capital, to provide financing solutions for MSMEs investing in rooftop PV installations. This collaboration, targeting 3.6 MW of solar capacity annually, aims to address the sector’s financial challenges while reducing over 2,500 tons of CO2 emissions yearly. Designed for MSMEs in the 20-200 kW range, the initiative seeks to bridge a significant financing gap in renewable energy adoption. Federal Bank, with MSME loans comprising over 20% of its total loan portfolio, also offers a dedicated green loan scheme for solar and other sustainable projects. Ecofy contributes to this partnership with its expertise in solarizing rooftops and collaborations with over 1,000 EPC partners and major OEMs like Tata Power and Mahindra Solarize.
Ecofy and Federal Bank offer affordable loans for MSME solar projects
Federal Bank and Ecofy’s new program will fund rooftop solar for MSMEs, reducing 2,500 tons of CO₂ annually. (Image Credit/Source: Trinh Trần/Pexels)
Norsun’s bankruptcy halts solar production in Årdal, impacting 70 employees and Norway’s renewable sector. (Image Source: NRK)
Owl River Métis and Culture Pathway signed a solar and land development agreement to advance renewable energy and community development. (Image Source: Pixabay)
Tigo Energy highlighted solar solutions in Hawaii, improving flexibility, energy savings, and compliance with renewable standards. (Image Credit/Source: LCEC/Pixabay)
CleanCapital expanded its solar portfolio with Kendall’s 22.7 MW assets. (Image Credit/Source: TheOtherkev/Pixabay)