State Bank of India to lend US$357 million to seven companies for rooftop solar

Facebook
Twitter
LinkedIn
Reddit
Email
Lending will be offered to JSW Energy, Hinduja Renewables, Tata Renewable Energy, Adani Group, Azure Power, Cleantech Solar and Hero Solar Energy. Credit: MNRE

State Bank of India (SBI) is to lend INR23.17 billion (US$357 million) to seven companies for 575MW of grid-connected rooftop solar projects, according to Reuters.

The lending will be offered to JSW Energy, Hinduja Renewables, Tata Renewable Energy, Adani Group, Azure Power, Cleantech Solar and Hero Solar Energy.

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

Last year, SBI signed agreements with the World Bank for a US$625 million facility specifically to support India’s grid-connected rooftop solar programme and the new loans are part of that facility.

SBI already has a total loan exposure of around INR120 billion rupees to the solar sector.

In related news, Ministry of New and Renewable Energy (MNRE) has nearly finished approving all sanctions for rooftop solar subsidies and the sanctioning process will be reviewed in November.

Read Next

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.
October 2, 2025
The Indian Department of Commerce has launched an antidumping investigation on solar encapsulants originating or exported from South Korea, Vietnam and Thailand.
September 29, 2025
Indian solar manufacturer Waaree has said it does not expect to pay additional duties on its solar cell imports to the US, following the start of an antidumping and countervailing duty (AD/CVD) investigation by the US Customs and Border Patrol (CBP).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland