Mufin Green Finance, a leader in climate finance solutions, has taken a major step into the solar financing sector. The company recently closed its first solar financing deal worth ₹3.25 crore. This funding enabled a client to set up a rooftop solar unit at a manufacturing facility in Baroda, Gujarat, for a prominent $3 billion company. Previously focused on electric vehicle (EV) financing, Mufin Green Finance is now expanding into solar projects. The company has set an ambitious goal to finance ₹500 crore in solar projects and support 2 lakh solar installations by 2026, contributing to India’s renewable energy goals.
Mufin Green Finance is launching its solar financing solutions at a time when India’s demand for renewable energy is rapidly increasing. The company is offering innovative financing options designed to speed up the transition to clean energy. These solar loans do not require collateral, making approval times faster—under 10 minutes—while disbursements are completed within 24 to 48 hours. Loans ranging from ₹1 lakh to ₹10 crore are available, covering the full cost of solar systems, including panels, inverters, batteries, and installation. This financing is available for both residential and commercial solar projects, helping meet India’s rising need for sustainable energy solutions.
Speaking on the expansion, Kapil Garg, MD & CEO, Mufin Green Finance, said in a statement, “This transaction marks an important step in expanding solar financing options for stakeholders through solutions like supply chain financing, working capital for installers, and lease financing for end-users. Our focus on assessing assets, stakeholders, and cash flows allows us to streamline the financing process and make solar energy more accessible across India. This project is one of several in our pipeline, with similar initiatives planned in Jaipur, Nagpur, and other locations. As we grow our loan book, Mufin Green Finance aims to fund over ₹500 crore worth of solar projects in the next two years, further contributing to India’s renewable energy targets and supporting the clean energy transition.”
Pratik Mandvia, Solar Business Head at Mufin Green Finance said in a statement,“Solar energy is no longer an alternative; it’s becoming a central pillar of India’s energy strategy. By entering the solar financing sector, Mufin Green Finance is poised to accelerate this transition, offering capital solutions that not only fund projects but also drive ecosystem-wide collaboration. Our focus extends beyond individual installations as we aim to address industry-wide challenges such as high upfront costs and cumbersome loan processes.
He further added, “With fast-track financing options and zero-collateral loans, we are creating a model that empowers stakeholders across residential, commercial, and industrial sectors to adopt solar technology seamlessly. This initiative positions Mufin Green Finance as a catalyst for large-scale adoption of clean energy, contributing significantly to India’s renewable energy goals.”
Mufin Green Finance, established in 2016 by Kapil Garg, has played a key role in financing electric vehicles worth ₹6000 crores across two, three, and four-wheelers. The company operates in 16 states across India. Recently, Mufin raised ₹140 crore (around $17 million) in a Series B equity round and ₹530 crore in debt funding last year. It also secured an additional $5 million in debt financing from BlueOrchard.
These funds will support Mufin’s green energy projects, encourage innovation, and contribute to sustainable growth. With a focus on making a positive environmental, economic, and social impact, Mufin has increased its assets under management (AUM) to over ₹900 crore and now employs more than 540 people.
