Luminous Power Technologies has signed a memorandum of understanding (MoU) with the State Bank of India (SBI) to enhance access to solar financing across India.
As part of the agreement, Luminous has been onboarded as a recommended partner on SBI’s dedicated portal for solar loans. The collaboration covers multiple financing subcategories, including solar solution finance and supply chain finance, ensuring a broad financial framework for businesses and institutions.
Additionally, it aims to provide loans of up to Rs 100 million to eligible customers in the commercial, industrial, corporate, and micro, small and medium enterprise sectors, facilitating the adoption of solar energy by reducing financial barriers. Under this arrangement, customers will benefit from reduced loan processing fees and competitive interest rates, which will vary based on their credit profile. The maximum loan tenure is set at ten years, allowing businesses and institutions to plan long-term solar investments effectively.
