Solfin, a tech-based renewable energy financing platform with its own NBFC license, has announced the disbursement of over ₹100 crore in solar loans—just nine months after it began operations. The achievement follows a ₹100 crore strategic investment from Waaree Sustainable Finance Pvt. Ltd., a part of the Waaree Group.
India’s solar energy sector is growing fast. The country’s installed solar capacity has reached 97.9 GW in 2024. This includes a record addition of 24.5 GW in a single year—more than double the amount added the year before. The sharp rise has increased the need for easy and fast financing options. Solfin aims to meet this need through its technology-led approach.
The company offers a digital lending platform that speeds up the loan process. It provides online approvals, quick disbursements, and tailored loan products for different solar projects. These include rooftop solar systems for homes, group housing societies, and commercial and industrial (C&I) projects. So far, Solfin has funded projects across various sectors including C&I, residential, and supply chain segments.
“Reaching ₹100 crore in disbursements in such a short time shows the strong demand for reliable solar financing. It also reflects the trust our customers have placed in us,” said Gautam Kaushik, Co-founder of Solfin. “Our partnership with Waaree has helped us financially and strategically as we push to expand access to clean energy across India.”
Solfin is now in discussions with venture capital firms and institutional investors. These talks aim to raise additional funds to support the company’s future plans. The new capital will be used to enter new markets, launch more green finance products, improve its digital platform, and explore new sectors such as electric vehicles (EVs) and battery energy storage systems (BESS).
India is aiming to reach 500 GW of non-fossil fuel energy capacity by 2030. To get there, easy access to financing will be essential. Solfin’s quick disbursal of ₹100 crore in less than a year highlights the growing role of tech-driven finance in supporting clean energy adoption. The company is now well-placed to be a key player in India’s green energy transformation.
