BlackSoil Group’s non-banking financial company (NBFC) arm has acquired the solar financing business of Credit Fair for about ₹45 crore, marking its entry into rooftop solar lending. The deal, announced this week, expands BlackSoil’s retail and climate-focused loan portfolio in India’s renewable energy sector, according to livemint.com.
The acquisition involved BlackSoil NBFC taking over Credit Fair’s solar financing operations to strengthen its position in the growing rooftop solar market. Ankur Bansal, managing director of BlackSoil Group, highlighted the strategic nature of this move as the company aims to capitalize on the increasing demand for clean energy financing in India. The deal was completed as part of BlackSoil’s broader plan to diversify its lending products with a focus on sustainability.
India’s rooftop solar sector has been expanding rapidly due to government incentives and rising awareness of renewable energy benefits. BlackSoil’s acquisition aligns with a trend of financial firms entering climate-focused lending, competing with other NBFCs and banks that have increased their exposure to green loans. This deal places BlackSoil among key players targeting the solar financing market, which has seen significant growth driven by policy support and consumer interest.
The acquisition was finalized in early July 2026, with BlackSoil confirming the ₹45 crore transaction. This move is expected to enhance BlackSoil NBFC’s loan book with climate-aligned assets, supporting India’s renewable energy goals. The company’s next financial disclosures will provide insights into the impact of this acquisition on its portfolio, as reported by livemint.com.