Fibe's Green Leap: Solar Financing for Middle-Income Homes

Digital lending platform Fibe has made a significant move into the green energy sector, unveiling its new rooftop solar financing solution. The aim is to make clean energy more accessible to middle-income households in India, the company announced on Tuesday.

By collaborating with more than 100 solar installation EPC companies nationwide, Fibe is extending its offering across India. CEO and co-founder Akshay Mehrotra emphasized the focus on expanding into Tier-II and Tier-III markets, strengthening distribution through partnerships with solar manufacturers and service providers.

This solar financing product is designed for the residential segment, providing collateral-free loans of up to Rs 5 lakh. This covers 100% of the project cost, including panels and installation, addressing a key affordability barrier in smaller cities, as identified by Mehrotra. The initiative aligns with the government's PM Surya Ghar: Muft Bijli Yojana, aiming to power 1 crore homes through solar.

(With inputs from agencies.)