SBI to sign $165 million with World Bank for rooftop solar projects

January 18, 2024

State Bank of India (SBI) will sign a $165 million line of credit (LoC) with the World Bank. This funding aims to support grid-connected rooftop solar photovoltaic projects in the residential and institutional sectors. In September 2023, SBI announced plans to make rooftop solar installations mandatory for residential projects funded by the bank’s long-term climate action funds sourced from multilateral agencies. In addition, the company will sign a Euro 200 million LoC from the European Investment Bank for supporting climate action projects in India.