BlackSoil, an alternative credit platform, has acquired the solar financing business of Credit Fair, a B2B2C green energy financing platform, marking BlackSoil’s entry into India’s renewable energy lending sector. The transaction is subject to regulatory approvals.
Under the agreement, BlackSoil will take over Credit Fair’s entire solar financing vertical, including its management team, proprietary technology platform, brand and operating infrastructure. The acquired business currently manages assets under management of ₹152.6 crore, giving BlackSoil an immediate platform to serve residential rooftop solar customers and MSMEs.
“Through this acquisition, we are strengthening our renewable energy portfolio while expanding into a high-growth B2B2C financing ecosystem,” said Ankur Bansal, Managing Director of BlackSoil. “It enables us to work closely with solar ecosystem partners and provide customers with seamless access to financing solutions.”
Founded in 2018, Credit Fair has built operations across more than 20 Indian states, processing over 3.5 lakh loans and disbursing more than ₹1,300 crore since inception, with partnerships spanning solar industry players including Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas and Adani Solar.
“We built this solar financing business to make renewable energy more accessible,” said Aditya Damani, Founder and CEO of Credit Fair. “We are confident the platform is well positioned for its next phase of growth, with the potential to scale from financing 80 MW today to enabling 1 GW of distributed renewable energy capacity over time.”
Established in 2016, BlackSoil operates as an RBI-registered systemically important NBFC alongside a SEBI-registered AIF, with assets under management of $275 million and an A- (Stable)/A2+ rating from ICRA. The deal extends BlackSoil’s underwriting track record in MSME and enterprise lending into a sector benefiting from supportive government policy and rising electricity demand across Indian households and businesses.
