SBI to solarise 40 lakh homes in next two years

Mumbai: Country's largest lender SBI on Monday announced plans to "solarise" 40 lakh homes by FY27 to help in the country's renewable energy transition efforts.

"In order to play a lead role in India's renewable energy transition, SBI's Solar Rooftop Programme aims to solarise 4 million homes by FY2027, advancing India's Net Zero 2070 goals," an official statement said.

The bank made the announcement as it marked the completion of 70 years.

The lender said its agricultural lending exceeded Rs 3.5 lakh crore in FY25 -- the highest in the country -- supporting farm infrastructure, agri-enterprises, Farmer Producer Organisations, and cooperatives to enable sustainable rural development.

It spent Rs 610.8 crore in corporate social responsibility initiatives, reaching 94 aspirational districts, the statement said, adding, the efforts spanned healthcare, education, rural development, and environmental sustainability.

The projects also include a mission to plant 9 lakh trees in the Cauvery basin and support for underprivileged students and persons with disabilities.

The bank is also putting up a centre of excellence on project finance in new age businesses like renewable energy, e-mobility, data centres, semiconductors, green hydrogen, decarbonisation and smart infrastructure which is aimed to become an "asset of national importance".

"Today, we are investing deeply in our people, technology, and infrastructure to serve a billion aspirations with greater speed, empathy, and responsibility. Our vision is not just to lead in scale, but to lead with purpose, unlocking long-term value for every stakeholder and powering India's journey towards a more equitable and resilient future," chairman C S Setty said.