Dugar Finance Secures $3 Million to Expand EV and Solar Loans

19 Jun 2025 CW Team

Dugar Finance & Investments Limited, a Chennai-based non-banking financial company (NBFC) specialising in solar and MSME financing, has secured USD 3 million in debt from the Green Basket Bond issued by Swiss impact investor Symbiotics Investments. Subscribed to by British International Investment, this funding is set to expand Dugar Finance’s lending portfolio in electric vehicles (EV) and rooftop solar systems, particularly in tier-II and tier-III cities.

The capital infusion will support Dugar Finance’s mission to deliver inclusive, sustainable credit solutions aimed at residential consumers, MSMEs, and housing societies—segments often under-served by mainstream lenders. To date, the NBFC has assisted over 1,200 customers in adopting solar energy and EVs, resulting in an estimated 3,000 tonnes of carbon emission reductions and annual electricity savings of around Rs 3 million.

Founded in 1987, Dugar Finance now operates through more than 30 branches across six states and serves over 25,000 customers. Its green financing products include vehicle loans, rooftop solar funding, and MSME credit, targeting self-employed individuals and gig economy workers.

Ramesh Dugar, Founder and Managing Director, commented: “This capital infusion is more than just a financial commitment—it’s a strong endorsement of our efforts to drive clean energy access and uplift small businesses at the grassroots level.”

With its latest funding secured, Dugar Finance is well-positioned to deepen its impact within clean-energy lending as India transitions towards a greener and more inclusive economy.

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