Alternative credit platform BlackSoil has announced it will acquire Credit Fair’s solar financing business, marking its entry into India’s renewable energy financing sector.

As part of the transaction, BlackSoil will acquire the solar financing business, including its management team, technology platform, brand, and operating infrastructure. Credit Fair’s solar financing assets under management stand at ₹1.53 billion (~$16.04 million).

The acquisition will provide BlackSoil with an established platform to serve residential solar customers and micro, small, and medium enterprises (MSMEs).

BlackSoil said the acquisition will strengthen its operations across the renewable energy value chain through a partner-led distribution model. The company plans to work with installation partners and provide financing solutions to end customers through Credit Fair’s relationships across the solar ecosystem.

BlackSoil has $275 million in assets under management and serves MSMEs and retail businesses across India and Southeast Asian markets.

Credit Fair operates in more than 20 states. It has processed over 350,000 loans and disbursed over ₹13 billion (~$136.3 million) since its inception in 2018. The company has partnered with Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas, and Adani Solar to provide financing solutions for rooftop solar installations.

Credit Fair said its solar financing business has funded 80 MW of distributed renewable energy and has the potential to help commission 1 GW of capacity over time.

In February 2025, Credit Fair raised $5 million (₹415 million) from the $75 million (₹6.22 billion) Green Basket Bond issued by Symbiotics Investments.

Rooftop solar installations have increased since the launch of the PM Surya Ghar: Muft Bijli Yojana. India added 2.7 GW of rooftop solar capacity in the first quarter (Q1) of 2026, a year-over-year growth of 125.4% from 1.2 GW and a 25.4% quarter-over-quarter increase from 2.2 GW, according to Mercom India Research’s Q1 2026 India Rooftop Solar Market Report. India’s cumulative rooftop solar installations reached 23.5 GW at the end of March 2026.