Jun 12 2017 | India Opportunities
SBI to fund 100 MW of grid-connected rooftop solar projects
State Bank of India (SBI) and World Bank have come together in May 2016 by signing a $625 million facility to support India’s grid-connected rooftop solar program. The target is to finance 400 MW of grid-connected rooftop solar projects through this program. The public sector bank has announced of its financial support of Rs 4 billion for setting up 100 MW of grid-connected rooftop solar projects in India. The financing is being provided by the SBI under a World Bank program to private developers that include Azure Power, Amplus, and Cleanmax, among others. The capacity of the projects and programs financed range from 25 kW to 16 MW.