SBI Announces Plan to Solarise 4 Lakh Homes by 2027

Marking its 70th anniversary, the State Bank of India (SBI) on Monday announced an ambitious plan to solarise 4 lakh households by FY27 as part of its commitment to India's renewable energy goals and the Net Zero 2070 vision.

In an official statement, the country’s largest lender said, “In order to play a lead role in India's renewable energy transition, SBI's Solar Rooftop Programme aims to solarise 4 million homes by FY2027, advancing India's Net Zero 2070 goals.”

The announcement reflects the bank's broader sustainability and social impact agenda. SBI said its agricultural lending has exceeded ₹3.5 lakh crore in FY25 — the highest in the country — supporting critical areas like farm infrastructure, agri-enterprises, Farmer Producer Organisations (FPOs), and cooperatives, thus promoting rural development.

SBI also revealed that it spent ₹610.8 crore on corporate social responsibility (CSR) initiatives during the financial year, impacting 94 aspirational districts across the country. The initiatives covered key areas such as healthcare, education, rural development, and environmental sustainability.

Among its major environmental commitments, the bank has taken up a mission to plant 9 lakh trees in the Cauvery basin and is actively supporting underprivileged students and persons with disabilities.

Looking to the future, SBI is setting up a Centre of Excellence in project finance focused on emerging sectors like renewable energy, electric mobility, data centres, semiconductors, green hydrogen, decarbonisation, and smart infrastructure. This new centre, the bank said, aims to become an “asset of national importance.”

“Today, we are investing deeply in our people, technology, and infrastructure to serve a billion aspirations with greater speed, empathy, and responsibility. Our vision is not just to lead in scale, but to lead with purpose, unlocking long-term value for every stakeholder and powering India’s journey towards a more equitable and resilient future,” SBI Chairman C S Setty said.

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