BlackSoil Acquires Solar Financing Business

BlackSoil, an alternative credit platform, has successfully acquired the solar financing division of Credit Fair for an undisclosed amount. This strategic move allows BlackSoil to take over Credit Fair’s solar financing business, which includes its management team, technology platform, brand, and operational framework.

The solar financing unit of Credit Fair currently oversees assets valued at Rs 152.6 crore. This acquisition provides BlackSoil with a solid foundation to finance residential solar initiatives and support MSMEs embracing solar energy solutions.

About Credit Fair’s Operations

Established in 2018, Credit Fair follows a B2B2C lending approach and has handled over 3.5 lakh loans spanning more than 20 states. The firm has successfully disbursed in excess of Rs 1,300 crore and collaborates with various solar ecosystem partners such as Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas, and Adani Solar.

BlackSoil’s Strategic Direction

According to BlackSoil, this acquisition is poised to enhance its footprint within the renewable energy value chain through a partner-driven distribution network. The company intends to collaborate closely with solar installation partners while providing financing solutions directly to clients.

BlackSoil’s Background

Founded in 2016, BlackSoil operates as an RBI-registered NBFC and a SEBI-registered AIF. The company manages assets approximating $275 million and offers credit solutions targeting startups, MSMEs, and other businesses.