India has set an ambitious target of 100 GW installed capacity of solar by 2022, of which 40 GW is projected to come from Grid-connected Rooftop Solar systems. With the twin goals of creating an enabling ecosystem for solar rooftops and addressing the financial challenges that accompany it, the World Bank program on Grid Connected Solar Rooftop was launched in 2016. The World Bank’s concessional and long term ﬁnancing of USD 625 Mn to State Bank of India (SBI) acts as a signiﬁcant catalyst for the growth of the Rooftop Solar. SBI will ﬁnance installation of at least 600 MW of Grid Connected Rooftop Solar Photovoltaic (GRPV) across India which will provide clean renewable energy and reduce greenhouse gas emissions by displacing thermal generation. Besides a rooftop solar long term financing program, SUPRABHA was also initiated which aims at creating enabling ecosystem at state level for sustaining the rooftop solar sector expansion post the WB-SBI program.
The Sustainable Partnership for Rooftop Solar Acceleration in Bharat (SUPRABHA) is a USD 13 million program which is led by The World Bank and SBI and implemented in partnership with the Ministry of New and Renewable Energy (MNRE). SUPRABHA oﬀers Technical Assistance to 17 Partner States allocated by MNRE (Assam, Haryana, Andhra Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Bihar, Jharkhand, Odisha, Madhya Pradesh, Chhattisgarh, Rajasthan, Chandigarh and Delhi) towards establishing an enabling ecosystem for accelerated deployment of grid connected Rooftop Solar.
Remove identified or perceived barriers to large-scale adoption of GRPV, through innovative business models, marketing and enhancement of institutional capacity of various stakeholders.
Handhold govt stakeholders to create and ease out necessary operational procedures for DISCOMs, SNAs, state power departments, State Electricity Regulatory Commissions(SERCs), SBI and other banks
Enable SBI to envision sustainable business prospects in GRPV segment and to position SBI as a market leader in GRPV project lending
Enable to design innovative financing products and streamline financing schemes. Learnings in the process will help other lending agencies to create sustainable lending processes
Create awareness of lending programs and build capacities of the DISCOMs, State Nodal Agencies (SNAs), state power departments, State Electricity Regulatory Commissions (SERCs), SBI etc. towards GRPV
To assist with the creation of large pool of trained and accredited GRPV-certified agents and enable sustained scaling of training programs and replication of institutional mechanisms
Lead to a quality-centric rooftop solar deployment in meeting Government of India’s 40 GW of rooftop solar targets by 2022
Facilitate policy & regulatory environment to bolster financing towards rooftop solar development in India
Achieve cost reduction rooftop solar tariffs to help gain its popularity amongst consumer
Create a replicable model for smaller banks, which might be risk averse
Meet disbursement target as per the Disbursement Linked Indicators (DLIs) and the Results Framework agreed with SBI
Develop healthy lending ecosystem for self-sustainable private-sector driven rooftop solar market
Operationalize other banks, utilities, and other stakeholders with effective documents