Luminous Power Technologies, a leading solar energy solutions provider in India, has partnered with the State Bank of India (SBI) to improve access to solar financing across the country. The collaboration aims to simplify the process for consumers adopting solar energy, from financing to installation.
This long-term partnership, lasting for the next 20 years, will see Luminous added to SBI’s dedicated solar loans portal as a recommended partner. The initiative will support various types of financing, including solar solutions and supply chain finance. It is designed to cater to a wide range of sectors, including MSMEs, corporate, institutional, commercial, and industrial.
Under the agreement, eligible customers will be able to access loans of up to ₹10 crore, helping to eliminate financial barriers to solar adoption. The partnership also offers reduced loan processing fees and preferential interest rates. Loans will be available for terms of up to 10 years, with rates based on the customer’s credit profile.
Preeti Bajaj, CEO & MD of Luminous Power Technologies, expressed her excitement about the partnership. “We are thrilled to collaborate with SBI to make solar financing and installation more accessible. Our nationwide survey, the Solar Spectrum of India, highlighted solar financing as a major hurdle. This partnership helps bridge the gap between solar ambitions and affordability, allowing more people to switch to clean energy,” she said.
Amit Shukla, Head of Energy Solutions at Luminous, emphasized the impact of the collaboration. “Partnering with SBI enables us to support India’s solar transition. With SBI’s extensive network and our end-to-end solutions, we can make solar energy more accessible and affordable for households and businesses alike,” he said.
Luminous provides a comprehensive solar ecosystem, including products, installation, maintenance, financing, and insurance. The partnership leverages SBI’s widespread distribution network, streamlining the transition from financing to solar installation for consumers.
Customers can access Luminous’ services through SBI’s recommended partners at bank branches or online. The company also offers a digital platform for full project management, covering site assessments, financing, and annual maintenance contracts (AMC). In addition to SBI, Luminous has partnered with 15 other loan service providers, including SIDBI, ICICI, HDFC, YES BANK, and others, offering diverse financing options across various customer segments and regions.
Founded 37 years ago, Luminous Power Technologies is a trusted brand in power backup and solar solutions. The company operates eight manufacturing units, more than 28 sales offices in India, and has a presence in over 40 countries. With a network of over 100,000 channel partners, Luminous serves millions of customers, focused on innovation, excellence, and customer satisfaction.
