WAAREE partners with SBI for consumer and channel partner financing

WAAREE, India’s largest solar panel manufacturer, has entered into an agreement with SBI to avail unsecured financing for solar projects through the Surya Shakti Solar Financing Program and provide working capital to channel partners in under the EDFS (Electronic Dealer Financing Program).

WAAREE intends to leverage more than 500 Cr from a line of credit through the Surya Shakti Solar Finance Scheme and provide a digital platform for a hassle-free journey to loan seekers for solar project finance . WAAREE enjoys the largest footprint across India through its channel partner network, which caters to customer base in the farthest corner of the country. This unsecured financing facility will be widely used by commercial institutions, industries, resorts, hotels, manufacturing units and warehouses to adopt solar energy as a new energy source. Thereby boosting solar penetration across India, contributing to our country’s energy security and accelerating the decarbonization of energy. The entire ecosystem has been put in place to ensure that customers receive all the support and advice needed to choose the right equipment, solve technical problems at their doorstep and speed up loan approvals.

WAAREE has always been leading change in the industry with a host of innovative products and high power solar panels, which is what we need today. WAAREE stands out by becoming the only manufacturer in India to get a 650 Wp solar panel listed in the ALMM. WAAREE’s state-of-the-art panel manufacturing facilities are equipped to manufacture panels over 540 Wp, meeting the demand for quality, high-efficiency solar panels. WAAREE has also been recognized as the “Best Indian Brand” in the renewable energy sector by The Economic Times. PVEL, a globally recognized laboratory in the field of photovoltaic testing, has ranked WAAREE among the best performers in its 2022 scorecard which is published to highlight the performance of global manufacturers.

About State Bank of India: State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. About WAAREE: WAAREE Energies Ltd. is India’s leading manufacturer of photovoltaic solar panels. Additionally, it provides EPC services, project development, rooftop solutions and solar water pumps and is an independent power producer. WAAREE operates in over 388 locations nationwide and 19 countries globally.

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