World Bank Backs India's Rooftop Solar Programme

17 Jul 2026 CW Team

The World Bank Board of Executive Directors approved a financing package of USD 890 million (mn) to support India's national rooftop solar programme. The package comprises an USD 820 mn loan from the International Bank for Reconstruction and Development, a USD 60 mn concessional loan from the Clean Technology Fund and a USD 10 mn grant from IBRD's Livable Planet Fund.

Beyond the public financing, the World Bank will mobilise USD 4.2 billion (bn) in private financing in the form of commercial loans to help households install rooftop solar systems. The initiative is expected to create around one point seven mn job opportunities across the renewable energy manufacturing, installation and services value chain.

The financing will support the Government of India's PM Surya Ghar: Muft Bijli Yojana and aims to encourage rooftop solar installations in 10 mn rural and urban households. The programme seeks to expand residential solar adoption, reduce household electricity costs and promote local manufacturing of rooftop solar equipment.

While India has witnessed rapid growth in large scale solar projects, uptake of rooftop systems in the residential segment has lagged. The programme has been designed to unlock this untapped potential by providing incentives, strengthening stakeholder capacity and addressing financial barriers that limit household participation.

World Bank officials noted that the institution has supported the rooftop solar sector for more than a decade and mobilised more than USD 2 bn to catalyse market growth from 500 MW to over 27 GW of installed capacity. Task team leaders said the programme will remove financial barriers through collateral free financing and build the capacity of distribution companies, banks and vendors to deliver integrated service solutions that lower monthly electricity bills for households.

Infrastructure Urban

17 Jul 2026

Ion Exchange Wins USD 52.83 Million Supply Contract From Hyundai

Ion Exchange (India) (Ion Exchange) has been awarded an international contract by Hyundai Engineering and Construction Co., (Hyundai Engineering) for the supply of filtration units in the Middle East. The contract is valued at USD 52.83 million and is to be executed over a period of 18 months. The order aggregates to approximately Rs 5.03 bn based on the prevailing exchange rate. Delivery schedules and technical specifications will be governed by the contract terms. The scope covers manufacture and supply of filtration units to be deployed across projects in the Middle East and follows the pro..

3i Infotech Subsidiary Wins Talent Deployment Contract With Krung Thai Bank

3i Infotech (Thailand), a wholly owned step down subsidiary of 3i Infotech, has won a contract from Krung Thai Bank Public Company on nine July 2026. The order covers talent deployment to support application development, enhancement, testing and digital transformation programmes. Roles specified include full stack development, backend development in Java, frontend development using Angular, DevOps engineering, quality assurance and test automation, business analysis and solution architecture. The engagement reflects the subsidiary's continued focus on banking technology services in the region...

HFCL Secures Export Order For Data Centre Fibre Connectivity

HFCL (HFCL) has secured an export order worth US dollar (USD) 51.98 million (mn), equivalent to Rs 4,958 mn, for the supply of optical fibre cable based data centre connectivity solutions through its overseas wholly owned material subsidiary. The contract was awarded by an international customer and underscores HFCL's manufacturing capabilities, technological competence and product quality in global markets. The company stated the award arises from normal business operations and aligns with its export strategy. The scope covers the supply of optical fibre cable based data centre connectivity s..