Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, announces a USD 15 million investment in Eversource-backed Ecofy, a Reserve Bank of India (RBI)-registered NBFC specializing in financing green products.
Founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, and backed by Eversource Capital, British International Investment, FMO and Finnfund, Ecofy is India’s leading retail-focused climate financing platform. In just three years, the company has scaled to serve over 130,000 customers, with a strong pan-India presence across 26 states and more than 500 cities.
Ecofy, India’s first green-only NBFC will deploy the loan proceeds to support onward lending, financing residential and commercial & industrial (C&I) rooftop solar installations, as well as electric mobility solutions across India. The transaction aims to accelerate the deployment of clean energy and low-carbon technologies while contributing to economic development.
The transaction marks Mirova’s fourth investment in India as part of its dedicated energy transition strategy in emerging markets, underscoring its long-term commitment to supporting the country’s low-carbon transition. This investment contributes to three of Mirova’s four key impact areas:
- Climate action (SDG 13), through the financing of solar photovoltaic generation and electric mobility;
- Affordable and clean energy (SDG 7), by supporting the expansion of distributed renewable energy; and
- Decent work and economic growth (SDG 8), by enabling access to finance for households and enterprises.
Vivek Khandelwal, Head Treasury, Ecofy said: “This partnership with Mirova marks another significant milestone in Ecofy’s journey to scale green financing. Access to long-term, mission-aligned capital strengthens our ability to reach households and small businesses for their rooftop solar and electric mobility solutions. We remain focused on building a robust, accessible financing ecosystem for India’s green transition.”
Priyanka Mehrotra, Investment Director, Mirova Division of Natixis Investment Managers Singapore Limited, added: “Financing the energy transition in emerging markets requires solutions that can combine scale, local reach and measurable impact. By supporting Ecofy, we are backing a platform that is already demonstrating its ability to deploy capital efficiently on the ground, accelerating access to clean energy and electric mobility while supporting inclusive economic growth in India.”
Source for all figures: Ecofy. This press release is for informational purposes only and does not constitute financial or investment advice. The information provided reflects the stakeholders’ opinion / the situation as of the date of this document and is subject to change without notice.
ABOUT ECOFY
Backed by Eversource Capital, Ecofy’s vision is to be a catalyst in accelerating the transition towards a net zero-carbon world. It partners with individuals and small businesses who want to reduce their carbon footprint and restore balance to the planet. Ecofy was co-founded by NBFC industry veterans Rajashree Nambiar and Govind Sankaranarayanan, who bring decades of experience in building and scaling financial services businesses. Ecofy offers loans for Electric Vehicles (Two & Three wheelers), rooftop solar, and small-medium enterprises providing E2E digital experience.
To know more, visit the official Ecofy website: https://www.ecofy.co.in/
LinkedIn: https://www.linkedin.com/company/ecofyfinance/
ABOUT MIROVA
Mirova is a global asset management company dedicated to sustainable investing and an affiliate of Natixis Investment Managers. At the forefront of sustainable finance for over a decade, Mirova has been developing innovative investment solutions across all asset classes, aiming to combine long term value creation with positive environmental and social impact. Headquartered in Paris, Mirova offers a broad range of equity, fixed income, multi-asset, energy transition infrastructure, natural capital and private equity solutions designed for institutional investors, distribution platforms and retail investors in Europe, North America, and Asia-Pacific. Mirova and its affiliates had €36.4 billion in assets under management as of December 31, 2025. Mirova is a mission-driven company*, labeled B Corp**.
References to a ranking, award or label have no bearing on the future performance of any fund or manager. * Mirova has been a mission-driven company since 2020. For more information: www.entreprisesamission.com. ** Since 2006, the B Corp movement has been promoting strong values of change worldwide to make businesses “a force for good” and to distinguish those that reconcile profit (for profit) and the common good (for purpose). The goal of B Corp is to certify companies that incorporate social, societal, and environmental objectives into their business models and operations. B Corp certification is a designation indicating that a company meets high standards of verified performance, accountability, and transparency on factors ranging from employee benefits and charitable donations to supply chain practices and input materials. Certified since 2020, Mirova submits a new B Corp certification application every three years. The certification fees amount to €30,000. For more information, please visit the B Corp website here: https://www.bcorporation.net/en-us/certification
Portfolio Management Company – French Public Limited liability company
RCS Paris No.394 648 216 – AMF Accreditation No. GP 02-014
59, Avenue Pierre Mendès-France – 75013 – Paris
Mirova is an affiliate of Natixis Investment Managers.
Website – LinkedIn
ABOUT NATIXIS INVESTMENT MANAGERS
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers* with more than $1.5 trillion assets under management** (€1.3 trillion), Natixis Investment Managers specializes in high-conviction active investment strategies, insurance and pension solutions, and private assets, and delivers a diverse offering across asset classes, styles, and vehicles. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals. Headquartered in Paris and Boston, Natixis Investment Managers is part of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks. Not all offerings are available in all jurisdictions. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers. Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various US registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.
* Survey respondents and publicly available data ranked by Investment & Pensions Europe/Top 500 Asset Managers 2025 ranked Natixis Investment Managers as the 20th largest asset manager in the world based on assets under management as of December 31, 2024.
** Assets under management (AUM) of affiliated entities measured as of September 30, 2025, are $1,528.4 billion (€1,300.9 billion). AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of nonregulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
