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SBI key deal.. New scheme for them.. Loans up to Rs.10 crore..!

Samayam | October 31, 2024 9:59 AM CST

SBI: State Bank of India signs another key deal. Solex Energy will provide loans of up to Rs.10 crore to commercial, industrial and institutional customers through this agreement. Surya Shakti will provide these loans under the Solar Finance Scheme. Let's find out the details.

SBI: State Bank of India, the country's largest public sector bank SBI has signed another key deal. As part of this agreement, loans of up to Rs.10 crore will be provided to commercial, institutional and industrial customers. Leading company Solex Energy has entered into an agreement with State Bank of India to provide loans for solar energy projects. As part of this partnership, SBI will provide loans under the Surya Shakti Solar Finance Scheme. Let's find out the details.

As part of the agreement with Solex Energy, SBI will provide loans of up to Rs. 10 crore for solar projects across the country through the Surya Shakti Solar Finance Scheme. Solex Energy made a statement to this effect on Saturday. "This agreement will bring affordable solar energy closer to the people and act as a driving force for the domestic renewable energy future," said Solex Energy Chairman, MD Chaitan Shah. He said that they will provide end-to-end support to their customers from solar energy project evaluation to regulatory approvals.

Solex Energy said that as part of this agreement, SBI will provide a unique digital platform for hassle-free loan application for solar projects. On the other hand, similar to SBI, ICICI Bank also entered into an agreement with Tata Power Solar Systems Company last August. Banks will provide loans to third parties in partnership with companies. When it comes to Solex Energy, Surat in Gujarat serves as the hub. It is in the process of increasing its solar module manufacturing capacity from 700 MW to 1.5 GW.