SBI sanctions Rs 2,317 crore for financing solar power projects


State Bank of India announced sanction of credit facilities amounting to Rs 2,317 crore to corporates for financing Grid Connected Rooftop Solar projects under an SBI-World Bank programme. This funding will create solar power capacity aggregating 575 MW.

India’s largest bank sanctioned loans to JSW Energy, Hinduja Renewables, Tata Renewable Energy, Adani Group, Azure Power, Cleantech Solar and Hero Solar Energy.

SBI Chairman Rajnish Kumar said players in the renewable energy space can avail loans for establishing grid connected rooftop solar projects. The bank currently has a renewable energy loans portfolio of Rs 12,000 crore with nearly nil non-performing assets (NPAs).