Mufin Green Finance Expands into Solar Financing with INR 3.25 Crore Transaction, Aims to Fund INR 500 Crore Projects by 2026 Mufin Green Finance is introducing fast-track solar financing solutions to overcome traditional barriers to adoption. Loan amounts range from INR 1 lakh to INR 10 crore, covering all expenses associated with solar system installations, from panels to inverters and batteries.
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Mufin Green Finance has announced its entry into the solar financing sector with the completion of its first transaction valued at INR 3.25 crore. This milestone represents a strategic expansion beyond its electric vehicle (EV) financing forte, marking a step in supporting India's renewable energy ambitions. The funding facilitated the installation of a rooftop solar unit at a manufacturing facility in Baroda, Gujarat, owned by a prominent $3 billion company, as per a media release.
In line with its roadmap, Mufin Green Finance plans to fund INR 500 crore worth of solar projects and finance 2 lakh solar installations by 2026. This initiative aligns with India's escalating demand for renewable energy, targeting a cleaner, more sustainable future.
Mufin Green Finance is introducing fast-track solar financing solutions to overcome traditional barriers to adoption. Loan amounts range from INR 1 lakh to INR 10 crore, covering all expenses associated with solar system installations, from panels to inverters and batteries. These solutions cater to residential, commercial, and industrial stakeholders, making solar technology more accessible across diverse sectors.
Kapil Garg, managing director and CEO of Mufin Green Finance, emphasized the importance of this strategic move by stating, "This project is one of several in our pipeline, with similar initiatives planned in Jaipur, Nagpur, and other locations. As we grow our loan book, Mufin Green Finance aims to fund over INR 500 crore worth of solar projects in the next two years, further contributing to India's renewable energy targets and supporting the clean energy transition."
Mufin Green Finance's foray into solar financing is timely, as India ramps up its renewable energy efforts. Upcoming projects, planned in cities such as Jaipur and Nagpur, reflect the company's robust pipeline and nationwide impact. Pratik Mandvia, Solar Business Head, highlighted the broader vision "Our focus extends beyond individual installations as we aim to address industry-wide challenges such as high upfront costs and cumbersome loan processes."
Mufin Green Finance has already facilitated electric vehicle financing worth INR 6,000 crore across 16 states and recently secured INR 675 crore in funding to drive its green initiatives.
