Solex Energy Partners with SBI for Solar Financing to Propel India's Renewable Future

Solex Energy has formed a partnership with the State Bank of India (SBI) to offer solar financing options for various customer segments. SBI will provide loans of up to Rs 10 crore for solar projects under its Surya Shakti Solar Finance Scheme, aiming to boost solar adoption across India.

Solex Energy announced a collaboration with State Bank of India (SBI) on Saturday, aiming to boost solar energy accessibility by offering financial solutions to commercial, industrial, and institutional customers.

The partnership will enable SBI to provide loans up to Rs 10 crore for solar initiatives across India as part of its Surya Shakti Solar Finance Scheme, according to Solex Energy's official statement. This collaboration is set to accelerate the adoption of solar energy and support business expansion.

While Solex Energy will deliver comprehensive services that range from site evaluation to regulatory approvals, SBI is committed to providing a seamless digital loan platform. This initiative reflects a broader industry trend, as both public and private financial institutions collaborate with solar companies to provide financial options for solar projects.

(With inputs from agencies.)