New Delhi: In a major push towards accelerating solar adoption in India, Luminous Power Technologies, a leader in solar energy solutions, has signed an MoU with the State Bank of India (SBI), the country’s largest lender. This strategic partnership aims to simplify solar financing, making it more accessible to businesses and individuals across the nation.

With SBI’s vast distribution network of over 22,000 branches, Luminous will now be a recommended partner on the bank’s dedicated solar loan portal. This collaboration is set to reshape the financial landscape for solar adoption, covering multiple financing segments such as solar solution finance and supply chain finance. The initiative will support MSMEs, corporates, institutions, and the commercial and industrial sectors, ensuring sustainable energy solutions are within reach.

Through this partnership, eligible consumers can avail loans of up to ₹10 crore for solar projects, making the transition to clean energy more affordable. Customers will benefit from reduced loan processing fees and competitive interest rates based on their credit profiles. These loans, with tenures of up to 10 years, are designed to eliminate financial hurdles, making solar energy an attractive investment.

Preeti Bajaj, CEO & MD of Luminous Power Technologies, expressed her enthusiasm about the collaboration:
“Solar financing has been a key gap in India’s transition to clean energy. Our nationwide survey, the Solar Spectrum of India, highlighted this challenge. Through this partnership with SBI, we are bridging that gap—making solar adoption seamless and affordable. By integrating financing with end-to-end installation and service support, we’re empowering individuals and businesses to embrace a sustainable future confidently.”

Amit Shukla, Head of Energy Solutions Business at Luminous, echoed this sentiment:
“SBI’s trusted legacy and deep market presence, combined with Luminous’ robust solar solutions, will drive widespread adoption of clean energy. This partnership is a game-changer in making solar power more accessible, ensuring a hassle-free transition for customers across India.”

Luminous’ digital platform will offer consumers a 360-degree experience—from site assessment and financing to installation and annual maintenance contracts (AMC). Customers can opt for solar financing through SBI’s branches or its online platform, making the process seamless and efficient.

Beyond SBI, Luminous has also partnered with 15 other leading financial institutions, including HDFC, ICICI, IDFC, YES BANK, and Bajaj Finserv, ensuring the widest financial coverage for solar projects across various customer segments and industries. This move reinforces Luminous’ commitment to democratizing solar energy and supporting India’s clean energy goals.