15-05-2025
Solfin crosses a key milestone by disbursing over Rs 100 crore in solar loans in less than a year
Solfin
, a technology-first platform focused on
renewable energy finance
and backed by its own nonbanking financial company (NBFC), has crossed a key milestone by disbursing over Rs 100 crore in
solar loans
within just nine months of operations.
This comes on the back of a Rs 100 crore investment from
Waaree Sustainable Finance Pvt. Ltd.
, part of the Waaree Group.
India's solar sector is undergoing a rapid shift, propelled by bold government targets and strong policy support. In 2024, the country's total installed solar capacity reached 97.9 gigawatts, with a record 24.5 gigawatts added in a single year—more than double the growth seen in the previous year. The sharp rise in demand highlights a need for agile, technology-enabled finance solutions—an area where Solfin is well positioned to lead.
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The company's
digital lending platform
simplifies the financing process through online approvals, faster disbursements and customised loan products built for residential rooftops, housing societies and commercial and industrial (C and I) projects.
The company has already provided financing across segments such as supply chain, residential rooftop and C and I, enabling wider adoption of clean energy and advancing climate resilience.
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"Reaching Rs 100 crore in disbursements so quickly reflects the strong appetite for trusted solar finance and the confidence our customers have in us," said
Gautam Kaushik
, Co-founder of Solfin. "Our partnership with Waaree brings not just capital but also strategic clarity as we scale our mission to broaden access to
clean energy financing
in India."
Solfin is in early discussions with selected venture capital and institutional investors who align with its long-term vision in climate technology, financial technology and sustainable infrastructure.
The capital raised will support geographic expansion, development of new green finance offerings, technology upgrades and entry into related sectors such as electric vehicles and battery energy storage systems.
Founded by two senior Amex executives,Gautam Kaushik and Pramod Mahanta, Solfin is building a distributed green asset delivery and finance platform with its own NBFC. Its primary focus remains on supporting sustainable infrastructure, especially
solar energy
.
Solfin's rapid deployment of Rs 100 crore in under a year reinforces the case for fast and digital finance solutions. As the nation accelerates its clean energy ambitions, Solfin is poised to be a central force in shaping the future of green energy financing.
Backed by Waaree Sustainable Finance, Solfin began operations in August 2024 after receiving RBI approval.
