Solar Financing Solutions for Rural MSMEs

Solar financing is revolutionising the energy landscape for rural MSMEs and households, and Metafin is at the forefront of this movement. The company has successfully obtained a $10 million structured debt facility from Lendable. This funding is aimed at enhancing solar energy financing across rural India, particularly assisting small businesses and households in their shift from diesel-powered systems.

Expansion of Solar Financing

This financial facility, provided through Lendable’s Transportation and Energy Fund, will facilitate the financing of productive-use solar systems for MSMEs and enterprises located in underserved areas. Such initiatives are crucial for promoting sustainable energy solutions in these regions.

About Metafin

Founded by Sandeep Chopra and Aditya Shah, Metafin operates a unique solar financing model that is closely linked with a network of over 1,000 local installers. This model also includes a dedicated servicing arm for installation and ongoing maintenance of solar systems.

Metafin has a notable track record, claiming to have financed upwards of 6,500 solar projects across more than 4,000 villages in five different states. These initiatives have significantly contributed to reducing carbon emissions, with the projects helping to offset over 30 million kilograms of CO₂ and displacing around 11 million litres of diesel in the process.

Investment and Partnerships

Backing Metafin are several prominent investors, such as Vertex Ventures SEAI, Prime Venture Partners, and Varanium Capital. The company also collaborates with various financial institutions, including SBI, Northern Arc, and AU Small Finance Bank, to further its mission of making solar energy accessible to all.