SBI's Ambitious Solar Initiative: Powering 4 Million Homes by 2027
State Bank of India (SBI) plans to solarise 4 million homes by 2027, aligning with India's renewable transition goals. Celebrating 70 years, SBI announced achievements in agricultural lending, corporate social responsibility, and new project finance initiatives, focusing on renewable energy and other innovations for a sustainable future.
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- India
The State Bank of India (SBI), the country's largest lender, has announced an ambitious plan to solarise 4 million homes by 2027 as part of its efforts to aid India's renewable energy transition. This initiative aligns with India's Net Zero 2070 goals, according to an official statement.
Marking its 70th anniversary, SBI highlighted its significant achievements, including agricultural lending that surpassed Rs 3.5 lakh crore in FY25, aiding farm infrastructure and sustainable rural development. Additionally, the bank invested Rs 610.8 crore in corporate social responsibility projects across healthcare, education, and environmental sustainability.
Further advancing its commitment to innovation, SBI is establishing a centre of excellence in project finance for new-age businesses, including renewable energy, e-mobility, and smart infrastructure. Chairman C S Setty emphasized the bank's dedication to investing in technology and infrastructure to support India's equitable and resilient future.
(With inputs from agencies.)
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