World Bank to offer $648 mn to India for rooftop solar

05 Apr 2021 Editorial Team

The World Bank is set to offer $648 million in funding assistance to India for the installation of rooftop solar power projects in the small and medium scale company market.

This package includes a credit guarantee scheme worth $100 million. The assistance will be delivered through the State Bank of India (SBI), the country's largest commercial bank.

The programme will target small and medium-sized companies that usually do not meet lending criteria for funding institutions. This is the second collaboration between the World Bank and the SBI.

World Bank launched the $648 million loan assistance programme for the rooftop solar market in 2016.

The Ministry of Micro, Small, and Medium Enterprises (MSME) urged companies to utilise this loan assistance programme and adopt rooftop solar power. The ministry claimed that around 16 gigawatts (GW) of rooftop solar power capacity could be installed in small and medium-sized companies.

Prime Minister Narendra Modi recently announced that India would meet its target to achieve 40 GW of rooftop solar power capacity by 2022. Earlier this year, a parliamentary panel had noted that the 40 GW rooftop solar power target by 2022 was unrealistic. This is notwithstanding several states that have been implementing rooftop solar panels for over a decade.

Previously, US agencies have also offered to fund India’s rooftop solar projects. Earlier this month, the US International Development Finance Corporation (DFC) and the United States Agency for International Development (USAID) said they will jointly sponsor a $41 million loan portfolio guarantee to aid investments by Small and Medium Enterprises (SMEs) in renewable energy in India.

Image Source

Also read: GESCOM invites bids for 10 MW rooftop solar net metering in Karnataka

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..