State Bank of India receives US$625 million facility from World Bank for rooftop solar

Facebook
Twitter
LinkedIn
Reddit
Email
The announcement comes off the back of last week's announcement of a US$1 billion loan from World Bank to India's solar scheme. Credit: The Climate Group

The State Bank of India (SBI) has signed agreements with the World Bank for a US$625 million facility specifically to support India’s grid-connected rooftop solar programme.

An SBI release said this would help it finance rooftop solar PV projects at very competitive rates.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

It also stated: “This, in turn, will catalyse the market and support the government to faster achieve its target to generate 40GW of electricity from widespread installation of rooftop solar PV panels.”

The financing will help developers, aggregators and end-users, planning to set up PV projects mainly on commercial, industrial and institutional rooftops.

India’s rooftop solar programme has been slow to progress compared to the booming utility-scale sector, accounting for just a small portion of the overall more than 7.5GW of Indian solar installed at present.

Last week, the Indian government announced the major financing commitment of US$1 billion in loans from the World Bank to help progress India’s overall solar programme.

Jasmeet Khurana, associate director, consulting, Bridge to India, told PV Tech: “Indian solar market requires capital and in that context, this is a welcome step. Financing of rooftop solar projects and transmission for solar parks are the focus areas for this funding line. Both of these are crucial to the growth of the market and, therefore, the funding is well targeted.”

This was in the World Bank’s largest ever support for solar power in any country; propelling India into the top spot for World Bank clients. Between 2015 and 2016 alone, the Group lent around US$4.8 billion to India.

Read Next

October 8, 2025
Saatvik Green Energy has secured new solar PV module orders worth more than INR7 billion (US$84 million), to be delivered in this financial year.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 6, 2025
Indian infrastructure company focused on rooftop and ground-based solar power installations, PVV Infra has secured solar power orders worth INR7.9 billion (US$90 million) through two of its subsidiaries. 
October 6, 2025
Indian solar developer ACME Group has established a new subsidiary to manage its renewable equipment manufacturing business, under which it is planning to scale production of TOPCon PV modules.
October 6, 2025
Rajasthan government will develop 500MW/2,000MWh of standalone battery energy storage systems (BESS) with a four-hour single-cycle configuration and extended operational life.
October 2, 2025
The Indian solar industry has 86GW and 182GW of solar cell and module manufacturing capacity, respectively, expected to be commissioned by 2027.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK