News

Luminous has signed an MoU with SBI to enhance solar financing in India.

MOUs and Agreement | Dated: 29 Mar 2025

In March 2025, Luminous Power Technologies Private Limited, a leading solar energy solutions company based in Gurugram (Haryana), signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI), India's largest Public Sector Bank (PSB), based in Mumbai (Maharashtra). This partnership aims to expand access to solar financing across India.

🎯 Key Highlights:

- As part of this strategic collaboration, SBI has onboarded Luminous as a recommended partner on its dedicated portal for solar loans.
- The partnership covers various financing categories such as solar solution finance and supply chain finance, providing accessible and customized financial solutions for different energy needs.

💡 Other Important Facts:

(i) Under the MoU, eligible customers can avail of a maximum loan of Rs. 10 crore, helping to remove financial barriers to adopting solar energy.
(ii) The loans provided will have a repayment period of up to 10 years, and the interest rate will be based on the customer's credit profile.

📚 Test Your Knowledge:

Which company has recently signed an MoU with SBI to enhance solar financing in India?

Correct Answer: Luminous

🚀 Quick Recap:

About SBI

Chairman : Challa Sreenivasulu Setty
Headquarter : Mumbai