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

October 31, 2017
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 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
Ciel & Terre has launched a new floating PV structure designed to address the increasingly large scale of floating solar projects.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).
October 14, 2025
India has installed 4.9GW of residential rooftop solar capacity in the first half of 2025, according to a report by IEEFA and JMK Research.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.

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