Solfin, a technology-driven platform specializing in renewable energy with its own Non-Banking Financial Company (NBFC), has announced the successful disbursement of over ₹100 crore in solar loans within only nine months of its launch. This milestone follows a strategic ₹100 crore investment from Waaree Sustainable Finance Pvt. Ltd., a subsidiary of the Waaree Group.
India’s solar industry is experiencing a significant shift, propelled by aggressive national targets and supportive government policies. As of 2024, the country’s total installed solar capacity stands at 97.9 GW, with a record 24.5 GW added within the year—more than twice the capacity added in the previous year. This rapid expansion is creating a clear need for flexible, technology-driven financing solutions—an area where Solfin offers a distinct competitive advantage.
Solfin’s online lending platform, simplifies the financing process by offering digital approvals, quicker disbursements, and customized loan products for residential rooftop systems, housing societies, and commercial & industrial (C&I) projects. Solfin has already provided funding across various segments, including Supply Chain, C&I, and Residential Rooftop, accelerating the adoption of clean energy solutions and contributing to the development of a more climate-resilient future.
“Reaching ₹100 crore in disbursements in such a short time highlights the growing demand for dependable solar financing and the confidence our clients have in us. Our collaboration with Waaree has given us both the financial support and strategic direction to advance our mission of broadening access to clean energy financing in India,” said Gautam Kaushik, Co-founder of Solfin.
Solfin is currently in talks with potential venture capital and institutional investors who share its long-term vision for climate technology, financial innovation, and sustainable infrastructure. The capital raised will be used to expand into new regions, introduce innovative green financing products, enhance digital capabilities, and explore related sectors such as electric vehicles (EVs) and Battery Energy Storage Systems (BESS).
India’s solar energy industry is at a crucial juncture, with financing set to play a pivotal role in accelerating growth. Solfin’s swift deployment of ₹100 crore in under a year underscores the importance of digital-first, efficient financing solutions in driving widespread solar adoption. As India works towards its target of 500 GW of non-fossil fuel energy capacity by 2030, Solfin is well-positioned to take a leading role in the green energy financing space.
Founded by Gautam Kaushik and Pramod Mahanta, Solfin is a distributed green asset delivery and financing platform with a captive Non-Banking Financial Company (NBFC) focused on supporting sustainable infrastructure, particularly in the solar energy sector. Backed by Waaree Sustainable Finance, Solfin began operations in August 2024 after receiving approval from the RBI.
