The Asian Development Bank (ADB) has sanctioned loans worth $240.5 million for financing rooftop solar systems in India. The funding will be allocated to State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD) to provide loans to developers and end-users for the deployment of rooftop solar systems throughout India.
Furthermore, SBI will be allocated $90.5 million from ADB’s Clean Technology Fund, while NABARD will receive $150 million. This loan is to support the second and third tranches of the Multi-tranche Financing Facility Solar Rooftop Investment Programme. The programme was started by ADB in 2016 and restructured in 2023 to focus on residential rooftop solar deployment.
In April 2024, The Asian Development Bank (ADB) and Buskowitz Solar Incorporation, a subsidiary of Buskowitz Energy Incorporation, have finalised a $12 million deal to support solar energy for commercial and industrial consumers in the Philippines. The project aims to generate 88 GWh of clean electricity annually and reduce 54,000 tonnes of carbon equivalent emissions. The financing package includes a $12 million loan from ADB and a $24 million parallel loan from the Philippine National Bank.
