Solfin Sustainable Finance, a green-focused non-banking financial company (NBFC), has launched its Performance-Linked Lease (PLL) offering in Himachal Pradesh and Punjab. The first projects under the model have been commissioned for The Sukhjit Starch & Chemicals, a manufacturer of starch, related chemicals and industrial by-products. The projects bring together Solfin as the financier, Waaree Energies as the technology provider and The BrightQ Solutions as the engineering, procurement and construction (EPC) partner. The collaboration is intended to help commercial and industrial (C&I) businesses adopt solar power while limiting their upfront capital requirements. Under PLL, customers make payments based on the electricity generated by the solar system rather than through fixed equated monthly instalments. Solfin manages the asset’s performance and maintenance, while the structure is designed for larger C&I installations seeking an alternative to long-term power purchase agreements (PPAs) and conventional capital expenditure projects. Solfin offers lease tenures of up to 10 years. The company said electricity cost savings are intended to exceed lease payments, allowing customers to realise benefits during the lease period rather than waiting until its completion. Customers may also benefit from tax savings linked to accelerated depreciation. At the end of the tenure, ownership of the solar asset passes to the customer, who can retain the full savings generated by the system. Solfin plans to expand the offering across India’s industrial clusters, initially focusing on businesses with high daytime electricity consumption. The project partners said the arrangement enabled Sukhjit to increase its use of solar energy without significant upfront investment or responsibility for generation and maintenance risks. BrightQ said it had completed the installation and commissioning at Sukhjit’s premises, while Solfin described the project as demonstrating the potential of performance-linked solar pricing without significant upfront capital expenditure or a long-term power contract.