Luminous Power Technologies, a leading provider of solar energy solutions in India, has signed a memorandum of understanding (MoU) with the State Bank of India (SBI), the country’s largest national bank, to enhance access to solar financing across India. The partnership aims to simplify the journey from financing to installation, ensuring a smooth transition for consumers switching to solar energy.
Through this long-term collaboration, which spans the next two decades, Luminous has been added to SBI’s dedicated solar loans portal as a recommended partner. The partnership covers various financing categories, including solar solutions finance and supply chain finance, providing tailored financial support for different energy needs across all sectors, such as MSMEs, corporate, institutional, commercial, and industrial.
Under the agreement, loans of up to ₹10 crore will be available to eligible customers, removing financial barriers to solar adoption. In addition, customers will benefit from reduced loan processing fees and preferential interest rates. Loans will be offered for up to 10 years, with rates determined based on the customer’s credit profile.
Preeti Bajaj, CEO & MD of Luminous Power Technologies, commented, “We are thrilled to collaborate with SBI to improve access to solar financing and comprehensive installation services. Our nationwide survey, the Solar Spectrum of India, highlighted solar financing as a key gap. This partnership allows us to help bridge the divide between solar aspirations and affordability, enabling easier transitions to clean energy solutions.”
Amit Shukla, Head of Energy Solutions Business at Luminous, added, “Partnering with SBI helps us support India’s solar transition. SBI’s extensive network, combined with our end-to-end solutions, will make solar energy more accessible and affordable for both households and businesses. This collaboration reinforces our commitment to accelerating the adoption of clean energy across India.”
With a strong nationwide presence, Luminous offers a complete ecosystem that includes solar products, installation, maintenance, financing, and insurance. The partnership with SBI leverages the bank’s vast distribution network to make the transition from financing to solar installation more efficient for consumers.
Customers can access Luminous’ services through SBI’s recommended partners at bank branches or online. Luminous also provides a digital platform offering full project management, from site assessment to financing and annual maintenance contracts (AMC). In addition to SBI, Luminous has teamed up with 15 other prominent loan service providers, including SIDBI, ICICI, HDFC, YES BANK, and others, ensuring a broad coverage of financing options across customer segments and geographies.
Luminous Power Technologies, established 37 years ago, is a trusted brand offering innovative power backup and solar solutions, including inverters, batteries, and solar products. With 8 manufacturing units, over 28 sales offices in India, and a presence in over 40 countries, Luminous serves millions of customers through a network of more than 100,000 channel partners. The company is committed to customer satisfaction through innovation, excellence, and teamwork.
