Solex Energy has announced a strategic partnership with the State Bank of India (SBI) to provide financing solutions for solar projects aimed at commercial, industrial, and institutional clients. This collaboration enables SBI to offer loans of up to ₹10 crore for solar initiatives under its Surya Shakti Solar Finance Scheme, available nationwide.
Driving Renewable Energy Growth
Chetan Shah, Chairman & Managing Director of Solex Energy, stated, “The goal of this partnership is to enhance the 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 swiftly adopt solar solutions and expand their businesses.”
Solex Energy will support customers with services such as site assessments, design, and assistance with regulatory approvals. Meanwhile, SBI will provide a digital platform to ensure a seamless loan application experience for solar financing.
Industry Trends in Solar Financing
Many public and private lenders are increasingly collaborating with solar companies to offer financing solutions for both commercial and residential projects. For example, in August, Tata Power Solar Systems Ltd (TPSSL) partnered with ICICI Bank to finance solar installations for residential and corporate clients.
Expansion of Solar Module Manufacturing
Headquartered in Surat, Solex Energy is currently expanding its solar module manufacturing capacity from 700 megawatts (MW) to 1.5 gigawatts (GW) at its facility in Tadkeshwar, Gujarat. As a leading Indian company, Solex specializes in designing, manufacturing, and installing solar energy products and solutions.
Commitment to Sustainability
Founded with a vision to promote sustainable energy, Solex Energy offers a diverse range of products, including solar panels, solar power plants, and solar water heaters. The company is recognized for its high-quality photovoltaic modules and its commitment to delivering affordable, efficient, and environmentally friendly energy solutions.
With a strong emphasis on innovation and technological advancement, Solex Energy plays a vital role in India’s transition to clean energy. Through its various projects across residential, commercial, and industrial sectors, the company significantly contributes to reducing carbon footprints and advancing green energy initiatives.
Solex Energy’s dedication to sustainability, coupled with its extensive service network, positions it as a trusted leader in the solar energy industry.
