Federal Bank Partners with Ecofy to Provide Solar Installations for MSMEs

Current Context: On 18th December 2024, Federal Bank partnered with Ecofy, India's first green-only NBFC, to provide innovative financing solutions for MSMEs investing in commercial rooftop solar installations.

• Aim: To provide innovative financing solutions for MSMEs investing in commercial rooftop solar installations.
• Important Highlights:
• Annual Target: Finance 3,600 kW of rooftop solar installations.
• Environmental Impact: Reduction of over 2,500 tons of CO2 emissions each year.
• Benefits for MSMEs: Reduced electricity costs, easier access to financing, and contribution to environmental sustainability.
• Global Goals Alignment: Supports global sustainability goals and promotes a more eco-friendly business environment.

Question:

1 What is the annual target set for financing rooftop solar installations under the Federal Bank-Ecofy partnership?

• A) 3,600 kW
• B) 2,400 kW
• C) 1,800 kW
• D) 5,000 kW

Answer: A) The partnership has set a goal to finance 3,600 kW of rooftop solar installations annually.