Metafin, a solar financing platform focused on rural micro, small, and medium enterprises (MSMEs) and households, has secured a $10 million structured debt facility from global asset-backed credit provider Lendable.

The funding will be used to expand Metafin’s access to affordable solar solutions and financing for productive-use solar systems for MSMEs, enterprises, and small businesses across rural India.

Through these initiatives, Metafin aims to enable rural businesses and households to transition away from diesel-based energy solutions by improving their access to reliable, affordable solar power.

Metafin said it is supporting the energy transition in India through its proprietary retail-scale solar financing model. This platform involves a network of more than 1,000 local solar installers, real-time energy monitoring, and a servicing arm supporting the deployment and maintenance of solar systems across rural markets.

Metafin has so far financed more than 6,500 solar projects in over 4,000 villages across five states.

India has recently increased its focus on renewable energy transition, particularly to solar power in rural regions.

Banks and financial institutions in India are offering tailored loans, concessional rates, and specialized programs to support the solarization of MSMEs, residential users, and agricultural projects. Financing decisions depend on credit ratings, financial discipline, and project viability. Despite improved access and competitive rates, limited awareness of incentives and financing options remains a key barrier to wider adoption.

Earlier at the Mercom India Renewables Summit 2025, the Union Minister of New and Renewable Energy, Pralhad Joshi, had announced that the government would introduce a utility-led model under Surya Ghar to enable rural households without suitable rooftop space to benefit from the program.

Multinational corporations are also increasing their investments in rural solarization.

Last October, ADB approved a results-based loan of $460 million to modernize rural power infrastructure, promote distributed renewable energy generation, and improve agricultural productivity by providing farmers with reliable daytime solar electricity for irrigation in Maharashtra.