SBI funds 100MW rooftop solar projects with World Bank support
NEW DELHI: State Bank of India (SBI) on Friday announced financing of rooftop solar projects worth Rs 400 crore with private developers. This would add at least 100 MW of rooftop solar capacity to the grid, and is a significant step towards meeting the government’s target for 40 GW of rooftop solar installations.
SBI has availed loan of $625 million from the World Bank for on-lending to viable Grid-Connected Rooftop Solar PV (GRPV) projects undertaken by photo-voltaic (PV) developers, ggregators and end-users, for installation of rooftop solar systems on the rooftops of commercial, institutional and industrial buildings, a World Bank statement stated. Implementation of the programme by SBI will support the installation of more than 600 MW of rooftop solar capacity.