Solex Energy announced on Saturday that it has formed a partnership with the State Bank of India (SBI) to provide financing solutions for solar projects targeted at commercial, industrial, and institutional clients. Under this collaboration, SBI will extend loan options of up to ₹10 crore for solar initiatives through its Surya Shakti Solar Finance Scheme, available across India, according to a statement from Solex Energy.
“The goal of this partnership is to enhance accessibility and affordability of solar energy, positioning it as a catalyst for India’s renewable energy ambitions. We aim to drive the growth of solar energy, enabling our clients and channel partners to quickly adopt solar solutions and expand their businesses,” stated Chetan Shah, Chairman & Managing Director of Solex Energy.
Solex Energy will provide comprehensive support to customers, including site assessments, design, and assistance with regulatory approvals, while SBI will deliver a digital platform to facilitate a smooth loan application experience for solar financing.
Numerous public and private lenders are collaborating with solar companies to offer financing solutions for both commercial and residential solar projects. For instance, in August, Tata Power Solar Systems Ltd (TPSSL) partnered with ICICI Bank to finance solar installations for residential and corporate clients.
Headquartered in Surat, Solex Energy is in the process of increasing its solar module manufacturing capacity from 700 megawatts (MW) to 1.5 gigawatts (GW) at its facility in Tadkeshwar, Gujarat. Solex Energy is a leading Indian company specializing in the design, manufacturing, and installation of solar energy products and solutions.
Established with a vision to promote sustainable energy, Solex Energy offers a diverse range of products, including solar panels, solar power plants, solar water heaters, and other renewable energy systems. The company is known for its high-quality photovoltaic modules and its commitment to providing affordable, efficient, and environmentally friendly energy solutions.
With a strong focus on innovation and technological advancement, Solex Energy plays a crucial role in advancing India’s transition to clean energy. Through its projects across residential, commercial, and industrial sectors, the company contributes significantly to reducing carbon footprints and promoting green energy initiatives. Solex Energy’s dedication to sustainability and its extensive service network make it a trusted name in the solar energy industry.
