Alternative credit platform BlackSoil has acquired the solar financing business of Credit Fair in an undisclosed deal, marking a strategic move to strengthen its presence in India’s rapidly growing renewable energy financing ecosystem.
As part of the acquisition, BlackSoil will take over Credit Fair’s entire solar financing vertical, including its experienced management team, proprietary technology platform, brand identity, and operational infrastructure. The transaction provides BlackSoil with an established platform to accelerate financing for residential rooftop solar projects and MSMEs transitioning to clean energy solutions.
Credit Fair’s solar financing business currently manages assets worth ₹152.6 crore, offering BlackSoil an immediate foothold in a market witnessing increasing demand driven by government incentives and rising adoption of solar power across households and businesses.
Founded in 2018, Credit Fair operates on a B2B2C lending model, partnering with businesses to provide financing solutions to end customers. To date, the company has processed more than 3.5 lakh loans across over 20 states, with cumulative loan disbursements exceeding ₹1,300 crore.
The company has built a strong network within India’s solar ecosystem, working alongside leading industry players such as Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas, and Adani Solar.
According to BlackSoil, the acquisition will significantly enhance its renewable energy financing capabilities by leveraging Credit Fair’s partner-led distribution network. Going forward, the company plans to collaborate closely with solar installation partners while offering financing solutions directly to residential customers and small businesses adopting solar energy.
Founded in 2016, BlackSoil operates an RBI-registered Non-Banking Financial Company (NBFC) and a SEBI-registered Alternative Investment Fund (AIF). The firm currently manages assets worth approximately $275 million, providing structured credit solutions to startups, MSMEs, and growth-stage businesses across multiple sectors.
The acquisition reflects BlackSoil’s broader strategy of expanding beyond traditional alternative lending into high-growth sectors such as renewable energy, where financing continues to play a crucial role in accelerating India’s clean energy transition. By integrating Credit Fair’s solar financing platform, BlackSoil is positioning itself to capitalize on the increasing demand for accessible financing solutions that support the country’s sustainability goals.
By: Arushi Agarwal
