World Bank Supports India's Rooftop Solar with $198 Million

Feb 18, 2026

78 min

Feb 18, 2026 01:30

$198-million World Bank boost for India rooftop solar

## World Bank's Financial Backing

India's rooftop solar initiative has received a significant boost with a $197.67 million guarantee from the World Bank Group. This support is part of a larger effort to refinance a $500 million loan provided to the State Bank of India (SBI) for grid-connected solar systems.

## Role of MIGA and Citibank

The Multilateral Investment Guarantee Agency (MIGA), a part of the World Bank Group, issued the guarantee to Citibank N.A. This move is aimed at supporting SBI's renewable energy portfolio and contributing to India's climate objectives.

## India's Clean Energy Goals

India is committed to a clean energy transition, with investment needs estimated between $160 billion and $300 billion annually to achieve net zero emissions by 2070. SBI has been tasked with facilitating "green" financing, making up at least 7.5% of its domestic gross advances.

## Achievements and Future Plans

Since launching the rooftop solar project in 2016, SBI has demonstrated the commercial viability of solar energy for industrial and commercial sectors. The program has already achieved 1,004 MW of grid-connected rooftop solar installations.

## Public-Private Partnerships

The collaboration between Citi, MIGA, and SBI highlights the effectiveness of public-private partnerships in advancing sustainable development. This initiative is part of ongoing efforts to support India's ambitious solar program and global climate goals.

## Impact on SBI and Future Lending

The financial arrangement will help SBI reduce borrowing costs and diversify its funding sources. Additionally, the guarantee allows for more World Bank lending to India by transferring the loan to commercial lenders' balance sheets.

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