Renewable energy solutions provider Sunstream Green Energy completed a ₹7 billion (~$72.67 million) refinancing with State Bank of India (SBI) for an over-250-MW solar portfolio developed over three years across 17 sites in Maharashtra.

Sunstream had received initial financing from Aseem Infrastructure and Power Finance Corporation for the construction phase of the solar portfolio.

The company has a pipeline of 1 GW across utility-scale, commercial, and industrial solar projects. It aims to build a 2 GW renewable energy portfolio by 2030.

It aims to expand beyond solar power to integrated clean energy solutions, including battery energy storage systems and wind energy.

Sunstream is supported by institutional capital from entities in Singapore.

Last year, the company commissioned a 140 MW solar project in Maharashtra. Sunstream also announced plans to develop a 1 GW portfolio of operating renewable energy assets within the next 18 to 24 months.

Banks and non-banking financial companies are increasingly helping micro, small, and medium enterprises with critical financing for solar projects by offering customized financing solutions for the C&I segment.

Industry experts note that consumers can secure financing of up to ₹300 million (~$3.18 million) from public-sector banks for rooftop solar and open access projects, while private-sector banks are also offering more competitive lending options.

Over the last five financial years, public sector banks, government-owned/controlled financial institutions, and foreign direct investments cumulatively invested around ₹7.16 trillion (~$79.13 billion) in India’s renewable energy sector. Investments rose from ₹660 billion (~$7.29 billion) in the financial year (FY) 2021 to ₹2.68 trillion (~$29.6 billion) in FY 2025, according to data furnished in Parliament by the Minister of State for New and Renewable Energy, Shripad Yesso Naik.

This February, the World Bank Group’s Multilateral Investment Guarantee Agency issued a $197.67 million five-year guarantee to Citibank N.A. for its non-shareholder loan to SBI. The bank will use the guarantee to refinance the remaining principal on a $500 million loan from the World Bank, which it received in 2016 for its Grid-connected Rooftop Solar Photovoltaic systems program, launched that same year.

India installed 15.3 GW of solar capacity in the first quarter (Q1) of 2026, its highest-ever quarterly total, according to Mercom India’s Q1 2026 India Solar Market Update Report. Additions rose more than 143% year-over-year from 6.3 GW in Q1 2025, and nearly 49% quarter-over-quarter from about 10.3 GW in Q4 2025.