Luminous Power Technologies teams up with Credit Fair to offer affordable solar financing options, ET EnergyWorld

Energy solutions provider, Luminous Power Technologies announced a strategic partnership with Credit Fair, a fintech lender to offer affordable solar financing options to a diverse range of customers, including individuals, trust-run institutions, housing societies, and small to medium-sized industries, facilitating the installation of clean energy systems.

Through this alliance, customers can access comprehensive solar solutions, combining advanced technology with financial assistance at competitive rates ranging from 9% to 9.75% per annum. The process will be simplified with fast, digital solutions for easy EMI options for up to seven years and loan pre-closure without additional charges. Retailers and commercial entities can avail themselves of loans up to Rs 50 lakh and Rs 2 crore, respectively, for rooftop solar installations.

This initiative not only helps individuals and businesses reduce electricity expenses but also enables them to generate additional revenue by supplying surplus green power to distribution companies.

Aditya Damani, CEO of Credit Fair, said, “We are delighted to collaborate with Luminous as a technology partner to promote solar energy adoption across the country. Luminous, with three decades of expertise in energy and solar solutions, plays a crucial role in our rooftop solar drive by providing comprehensive technological support.”

Amit Shukla, Senior VP & Business Head, Energy Solutions at Luminous Power Technologies, said, “Our partnership with Credit Fair aligns with our commitment to innovation and smart energy solutions. Together, we aim to enhance customer comfort, improve living standards, and promote sustainable practices in powering homes and businesses.”

This partnership coincides with the government’s new initiative ‘PM Surya Ghar Muft Bijlee Yojana,’ highlighting the immense potential of the solar energy segment in India’s energy security, economic growth, and renewable energy targets.

  • Published On Mar 21, 2024 at 03:08 PM IST

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