Solex Energy, SBI partner to provide finance for solar projects

Solex Energy connected Saturday said it has partnered with State Bank of India (SBI) to connection star financing options for commercial, industrial, and organization customers.

As portion of the partnership, SBI volition connection star financing done loans up to Rs 10 crore for star projects nether its Surya Shakti Solar Finance Scheme crossed India, Solex Energy said successful a statement.

"The collaboration aims to marque star vigor accessible, affordable, and a driving unit for India's renewable vigor future. The concern volition accelerate the maturation of star vigor and empower our clients and transmission partners to follow star solutions and thrust concern enlargement swiftly," Solex Energy Chairman & Managing Director (CMD) Chetan Shah said.

While Solex Energy volition connection end-to-end enactment to customers -- from tract valuation and plan to obtaining regulatory approvals -- SBI volition supply a integer level that ensures a hassle-free indebtedness exertion process for financing star projects.

Various nationalist and backstage assemblage lenders are tied up with star players to supply concern options for commercialized and residential star projects.

In August, Tata Power Solar Systems Ltd (TPSSL) signed an statement with ICICI Bank to supply financing for star units to residential and firm customers.

Based successful Surat, Solex Energy is successful the process of expanding its star module manufacturing capableness to 1.5 gigawatts (GW) from 700 megawatts (MW), astatine present, successful Tadkeshwar, Gujarat.