ADB OKs $240.5M Loan for Rooftop Solar Systems in India
ECONOMY & POLICY

ADB OKs $240.5M Loan for Rooftop Solar Systems in India

The Asian Development Bank (ADB) has sanctioned a loan of $ 240.5 million to fund rooftop solar systems in India, supporting the government's initiative to enhance energy access through renewable sources.

ADB revealed that this funding will back tranches 2 and 3 of the Multitranche Financing Facility (MFF) Solar Rooftop Investment Program, which ADB initially approved in 2016. In 2023, the program was restructured to concentrate on the deployment of residential solar rooftop systems.

India aims to achieve approximately 50 per cent of its cumulative electric power installed capacity from non-fossil fuel energy sources by 2030 in line with its global commitments to reduce carbon emissions. ADB's financing is aligned with these goals and will contribute to the Prime Minister's Surya Ghar program, which encourages the installation of rooftop solar systems across the country, ADB Principal Energy Specialist Kaoru Ogino explained.

The approved financing will be directed to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD). These institutions will provide loans to developers and end-users across India for the installation of rooftop solar systems. Specifically, ADB will allocate $ 90.5 million from its Clean Technology Fund (CTF) to SBI, while NABARD will receive $ 150 million, comprising $ 80 million from ADB's ordinary capital resources and $ 70 million from the CTF.

The Asian Development Bank (ADB) has sanctioned a loan of $ 240.5 million to fund rooftop solar systems in India, supporting the government's initiative to enhance energy access through renewable sources. ADB revealed that this funding will back tranches 2 and 3 of the Multitranche Financing Facility (MFF) Solar Rooftop Investment Program, which ADB initially approved in 2016. In 2023, the program was restructured to concentrate on the deployment of residential solar rooftop systems. India aims to achieve approximately 50 per cent of its cumulative electric power installed capacity from non-fossil fuel energy sources by 2030 in line with its global commitments to reduce carbon emissions. ADB's financing is aligned with these goals and will contribute to the Prime Minister's Surya Ghar program, which encourages the installation of rooftop solar systems across the country, ADB Principal Energy Specialist Kaoru Ogino explained. The approved financing will be directed to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD). These institutions will provide loans to developers and end-users across India for the installation of rooftop solar systems. Specifically, ADB will allocate $ 90.5 million from its Clean Technology Fund (CTF) to SBI, while NABARD will receive $ 150 million, comprising $ 80 million from ADB's ordinary capital resources and $ 70 million from the CTF.

Next Story
Building Material

Viva ACP Secures EPD Certification for Sustainable Cladding

Viva, Asia’s largest manufacturer of aluminium composite panels (ACP), has announced the successful release of its Environmental Product Declaration (EPD) under the International EPD® System. This milestone affirms Viva’s commitment to sustainability, transparent environmental reporting, and eco-conscious manufacturing. The certification covers Fire-Retardant (FR) Class A2, FR Class B1, and Non-FR ACPs, assessing the environmental performance of 1m² of Viva ACP (4mm thick) throughout its lifecycle—from raw material extraction to end-of-life recycling. The EPD reveals that up to 95..

Next Story
Real Estate

StarBigBloc Gets Shareholders’ Nod for IPO to Fund Expansion

StarBigBloc Building Material, a wholly owned subsidiary of BigBloc Construction Ltd (BSE: 540061), has received shareholder approval to raise funds through an Initial Public Offering (IPO). The move is aimed at unlocking shareholder value, securing growth capital, and potentially enhancing the overall valuation of BigBloc Construction. The IPO proposal was approved during the company’s Extraordinary General Meeting (EGM) held on 13th June 2025. The process remains subject to regulatory approvals, market conditions, and other applicable clearances. “This is a significant mileston..

Next Story
Resources

RentenPe and Mygate Partner to Transform Rent Payments in India

Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India’s first Rent Credit Score™ platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe’s payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?