BlackSoil Acquires Credit Fair's Solar Energy Business, Expands Into Renewable Energy

BlackSoil, an alternative credit platform, announced the acquisition of the solar financing business of Credit Fair, a leading B2B2C green energy financing platform with deep expertise in rooftop solar financing. The transaction is subject to the necessary approvals. The acquisition marks BlackSoil’s strategic entry into India’s rapidly growing renewable energy financing sector while expanding its presence in the partner-led B2B2C lending ecosystem.

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 Rs 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.

Credit Fair has built a strong presence across more than 20 states, processing over 3.5 lakh loans nationwide and disbursing more than Rs 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.

Regarding the acquisition of Credit Fair’s solar financing unit, 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. ”