Waaree-Backed Solfin Disburses ₹100cr Solar Loans In 9 Months

Waaree-Backed Solfin Disburses ₹100cr Solar Loans In 9 Months

Solfin, a tech-led renewable energy finance platform backed by Waaree Group, has disbursed more than ₹100 crore in solar loans within nine months of launching operations.

The milestone follows a ₹100 crore strategic investment from Waaree Sustainable Finance Pvt. Ltd., the financing arm of Waaree Group. Solfin operates as a non-banking financial company (NBFC) and focuses on improving access to green energy finance through a digital-first approach.

Rising Demand for Solar Finance in India

India’s solar energy sector is expanding rapidly, with cumulative installed capacity reaching 97.9 GW in 2024. The sector added 24.5 GW in a single year—more than double the previous year’s growth—reflecting rising demand for scalable and efficient financing solutions.

Solfin aims to address this demand with a digital lending platform offering online approvals, quick disbursements, and loan products tailored to residential rooftop systems, housing societies, and commercial and industrial (C&I) customers. The company has financed projects across supply chain, C&I, and residential rooftop segments.

“Crossing the ₹100 crore mark in disbursements in less than a year shows the growing need for reliable solar financing and the confidence customers have placed in us,” said Gautam Kaushik, co-founder of Solfin. “Our partnership with Waaree has given us the capital and strategic backing to expand green energy access across India.”

Future Plans and Expansion

Solfin is in preliminary discussions with institutional and venture investors focused on climate tech, fintech, and sustainable infrastructure. The company plans to use future capital to expand into new geographies, introduce new green finance products, improve its digital platform, and explore adjacent sectors such as electric mobility and battery energy storage systems (BESS).

As India works toward its 2030 target of 500 GW of non-fossil fuel capacity, access to digital, tech-enabled finance is seen as a key enabler for solar adoption. Solfin’s rapid disbursal of loans signals the growing role of financial innovation in scaling renewable energy deployment.

About Solfin

Founded by Gautam Kaushik and Pramod Mahanta, Solfin is a distributed green asset financing platform with its own NBFC. The company began operations in August 2024 after receiving approval from the Reserve Bank of India. Solfin focuses on financing solar and other sustainable infrastructure projects.