Mufin Green Finance has outlined plans to finance solar projects worth ₹500 crore by 2026, marking its strategic entry into the solar financing sector. The company recently completed its first solar financing transaction, signaling a new phase in its diversification from electric vehicle (EV) financing to renewable energy solutions.
As part of its initiative, Mufin Green Finance aims to support the installation of 2 lakh solar systems over the next two years, aligning with India’s renewable energy goals. The financing solutions provided by the company include loans ranging from ₹1 lakh to ₹10 crore, covering the complete cost of solar systems such as panels, inverters, batteries, and installation. Loan approvals are expedited, taking under 10 minutes, with disbursements completed within 24 to 48 hours. The program caters to both residential and commercial solar projects, with no collateral requirements.
Kapil Garg, Managing Director and CEO of Mufin Green Finance, stated, “This initiative is focused on expanding solar financing options, including supply chain financing, working capital for installers, and lease financing for end-users. It simplifies financing processes by assessing assets, stakeholders, and cash flows, making solar energy more accessible across the country.”
The Baroda project is one of several solar installations planned in cities such as Jaipur and Nagpur. The company is addressing challenges in the solar energy sector, particularly the high upfront costs, by offering fast-track financing options.
Founded in 2016, Mufin Green Finance has facilitated EV deployments worth ₹6,000 crore across two, three, and four-wheeler segments in 16 states. The company recently raised ₹140 crore through a Series B equity round and ₹530 crore in debt financing in the last fiscal year, in addition to securing $5 million in debt funding from BlueOrchard.
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