The Asian Development Bank (ADB) has approved $240.5 million in loans to finance rooftop solar systems in India that will help the government expand energy access using renewable energy.

• The financing will support tranches 2 and 3 of the Multitranche Financing Facility (MFF) Solar Rooftop Investment Program approved by ADB in 2016.
• The program was restructured in 2023 to focus on deploying residential solar rooftop systems.  
• The financing will be made available to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) to provide loans to developers and end-users throughout India to install rooftop solar systems. 
• ADB will provide SBI $90.5 million from its Clean Technology Fund (CTF) while NABARD will receive $150 million—comprised of $80 million from ADB’s ordinary capital resources and $70 million from CTF.