BlackSoil Acquires Credit Fair’s Solar Financing Business to Expand Renewable Energy Lending

BlackSoil, an alternative credit platform, has announced the acquisition of the solar financing business of Credit Fair, a B2B2C green energy financing platform focused on rooftop solar lending. The transaction, which is subject to regulatory approvals, marks BlackSoil’s entry into India’s renewable energy financing sector and strengthens its presence in the partner-led B2B2C lending ecosystem.

Under the agreement, BlackSoil will acquire Credit Fair’s solar financing business, including its management team, technology platform, brand, and operating infrastructure. The acquired business currently manages assets under management (AUM) of ₹152.6 crore, providing BlackSoil with an established platform to cater to the financing needs of residential solar customers and micro, small and medium enterprises (MSMEs).

The acquisition is expected to enhance BlackSoil’s position across the renewable energy value chain by leveraging Credit Fair’s partner network within the solar ecosystem. The company plans to work closely with solar installation partners while offering financing solutions directly to end customers through a scalable B2B2C distribution model.

Founded in 2018, Credit Fair has established operations in more than 20 Indian states, processing over 350,000 loans and disbursing more than ₹1,300 crore since inception. The company has built partnerships with several solar industry players, including Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas, and Adani Solar.

The acquisition comes amid growing momentum in India’s solar sector, driven by supportive government policies, rising electricity demand, and increased adoption of renewable energy technologies. With financing continuing to play a critical role in accelerating rooftop solar deployment, BlackSoil aims to expand access to customised financing solutions for residential and commercial customers.

Commenting on the acquisition, Ankur Bansal, Managing Director of BlackSoil, said the transaction strengthens the company’s renewable energy portfolio while expanding its footprint in the fast-growing B2B2C financing segment. He added that the acquisition will enable BlackSoil to collaborate more closely with solar ecosystem partners and provide customers with easier access to financing solutions.

Aditya Damani, Founder and CEO of Credit Fair, said the company established its solar financing business to improve access to renewable energy financing and believes BlackSoil is well positioned to drive its next phase of growth. He noted that the platform has the potential to scale from financing around 80 MW of projects today to supporting up to 1 GW of distributed renewable energy capacity over time.