AKME Fintrade (India), a Reserve Bank of India-regulated non-banking financial company, has partnered with Finayo to launch AKME GreenX, a green finance platform supporting electric mobility and renewable energy financing.

Under the partnership, the companies plan to build a green asset portfolio worth ₹2 billion (~$22.6 million) over the next two years.

The portfolio will comprise ₹1 billion (~$11.3 million) for electric-vehicle financing and ₹1 billion (~$11.3 million) for solar and distributed renewable-energy financing.

The partners aim to expand the portfolio to ₹10 billion (~$113.0 million) over the next five years.

According to the companies, the platform combines AKME Fintrade’s lending capabilities with Finayo’s artificial intelligence-powered digital lending platform to provide technology-enabled financing solutions.

The companies said the initiative is intended to improve access to green finance while supporting the adoption of electric mobility and renewable energy across India.

According to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard, India now has over 8.35 million registered electric vehicles (EVs). EV sales in India reached 696,769 units in the first quarter of 2026, an increase of over 35.5% year-over-year (YoY) from 514,198 units. EVs account for 9% of overall automobile sales, which totaled 7,889,101 units in the first quarter (Q1) of 2026.

According to Mercom India Research’s Q1 2026 India Rooftop Solar Market Report, India added 2.7 GW of rooftop solar capacity in Q1 of 2026, a YoY growth of 125.4% from 1.2 GW and a 25.4% quarter-over-quarter jump from 2.2 GW. India’s cumulative rooftop solar installations reached 23.5 GW at the end of March 2026.

Corporate funding in the solar sector rose to $11.1 billion across 53 deals in the first quarter of 2026, marking a 131% YoY increase from the $4.8 billion raised across 39 deals in Q1 2025. The funding also increased by 127% QoQ from the $4.9 billion secured through 48 deals in Q4 2025. The report also showed that 18.4 GW of solar projects changed hands during the quarter.