, India
109 views
Photo by Pixabay via Pexels

ADB allocates $240.5m for India’s rooftop solar system

Loans will be accessible via the State Bank of India and the National Bank for Agriculture and Rural Development. 

The Asian Development Bank (ADB) has approved a $240.5m loan to boost the rooftop solar systems in India, helping the country expand energy access and achieve its target of about 50% of cumulative electric power installed capacity from non fossil fuel energy sources by 2030. 

In a statement, ADB said this will back tranches 2 and 3 of the Multitranche Financing Facility Solar Rooftop Investment Program approved in 2016. This was restructured in 2023 to focus on deploying residential solar rooftop systems.

The loan will be made available to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) to provide loans to developers and end-users throughout India to install rooftop solar systems. SBI will receive $90.5m from ADB's Clean Technology Fund (CTF) whilst NABARD will receive $150m, comprising $80m from the financial institution’s ordinary capital resources and $70m from CTF.

Rooftop solar systems have a number of benefits, including generating electricity close to where it is used. This reduces the need for long-distance power supply and resultant system losses.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!