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

Infrastructure Transport

26 Jun 2026

Jeh Aerospace Opens Global Manufacturing Hub for Solestra Group

Jeh Aerospace (Jeh) and North America-based Solestra Group (Solestra) have inaugurated a dedicated Global Manufacturing Centre at Jeh's Hyderabad facility as part of a multi-year agreement. The centre has been established to strengthen manufacturing capabilities, support innovation and improve production scalability for aerospace programmes. Company officials presented the centre as a strategic manufacturing hub intended to serve global customers and to centralise responsibility for complex supply chain execution. Joe DeMartino, chief executive officer of Solestra, said in a statement that cus..

Haryana CM Saini Inaugurates Aviation Facilities In Bhiwani

Haryana Chief Minister Nayab Singh Saini inaugurated a set of aviation facilities at the Bhiwani airstrip on Wednesday, marking a significant investment in the region's aviation infrastructure. The ceremony brought into operation a new aircraft hangar, an Air Traffic Control (ATC) building, a security outpost and a canteen, signalling a broadened capacity for the airstrip. State officials described the development as a major step towards strengthening aviation capabilities in western Haryana and improving regional connectivity. The work was completed at a cost of Rs 310 million (mn), which the..

Dalmia Bharat Plans Rs 40,000 Mn Raise To Reach 130 MTPA By FY31

Dalmia Bharat plans to raise up to Rs 40,000 million (mn) to fund an expansion that targets 110 to 130 million tonnes per annum (MTPA) by fiscal year 2031. The fundraise, authorised by the board on May 23, 2026, will use a mix of public and private instruments to support acquisitions, greenfield and brownfield projects. The company presented the strategy as part of a wider aim to scale manufacturing and strengthen its domestic position. The group currently has about 49.5 MTPA of capacity and intends to scale to 75 MTPA in the medium term while targeting 66.7 MTPA by FY28. Management linked the..