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SBI to Fund 100 MW Rooftop Solar Projects Worth Rs. 400 Crore
June 14, 2017
India’s largest lender State Bank of India has announced that it will give financial backing to 100 MW rooftop solar projects that are covered under a World Bank Programme. In a joint statement, SBI and World Bank said that this would add a minimum of 100MW worth of solar power capacity to the grid and help government move closer to its target of 40GW of rooftop solar installations.
According to the official statement, SBI has taken a loan of $625 million from the World Bank for funding GRPV (Grid-Connected Rooftop Solar PV) projects that will be executed by private entities.
