BlackSoil Enters into Solar Financing with the Acquisition of Credit Fair
BlackSoil has entered the renewable energy financing sector through the acquisition of Credit Fair's solar financing business, which has an AUM of INR 152.6 crore.
July 09, 2026. By Mrinmoy Dey
As part of the transaction, BlackSoil will acquire Credit Fair's solar financing business along with its management team, technology platform, brand and operating infrastructure. Credit Fair currently has an Assets Under Management (AUM) of INR 152.6 Crore, providing BlackSoil with an established platform to serve the growing financing needs of residential solar customers and MSMEs.
The acquisition also strengthens BlackSoil's presence across the renewable energy value chain through a scalable partner-led distribution model. Leveraging Credit Fair's relationships across the solar ecosystem, BlackSoil will work closely with installation partners while delivering seamless financing solutions directly to end customers, stated the company.
Credit Fair has built a strong presence across more than 20 states, processing over 3.5 lakh loans nationwide and disbursing more than INR 1,300 crore since its inception in 2018. The company has partnered with leading solar ecosystem players including Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas and Adani Solar.
India's solar sector is witnessing rapid growth, driven by favourable government policies, rising electricity demand and increasing adoption of renewable energy. As financing remains a key enabler of this transition, the acquisition positions BlackSoil to expand access to customised financing solutions through a partner-led B2B2C model and support India's clean energy ambitions, asserted the company.
Commenting on the development, Ankur Bansal, Managing Director, BlackSoil, said, “Through this acquisition, we are strengthening our renewable energy portfolio while expanding into a high-growth B2B2C financing ecosystem. It enables us to work closely with solar ecosystem partners and provide customers with seamless access to financing solutions. We see significant opportunities in renewable energy and look forward to building on the strong foundation that Credit Fair has created.”
Aditya Damani, Founder and CEO, Credit Fair, said, “We built this solar financing business to make renewable energy more accessible. As we take this next step, we are pleased to see the business become a part of BlackSoil, which shares our vision of expanding access to clean energy financing. 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.”
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