BlackSoil Capital acquires Credit Fair’s solar financing business for Rs 45 crore

BlackSoil Capital, an alternative credit platform, has acquired the solar financing business of Credit Fair, marking its entry into India’s rooftop solar lending market.

The acquisition was completed through a cash slump sale for about Rs 45 crore. Credit rating agency ICRA said the transaction materialised on 1 July 2026.

Credit Fair’s solar financing business had assets under management of about Rs 160 crore as of March 2026, according to ICRA. Announcement-based reports put the business’s AUM at Rs 152.6 crore.

As part of the transaction, BlackSoil will take over the business along with its management team, technology platform, brand and operating infrastructure.

The acquisition gives BlackSoil an established platform to finance rooftop solar projects for residential customers and micro, small and medium-sized enterprises.

BlackSoil said the deal would strengthen its renewable energy portfolio and expand its presence in the partner-led B2B2C financing ecosystem. The company plans to work with solar installation partners while offering financing solutions directly to customers.

Ankur Bansal, managing director of BlackSoil, said the acquisition would enable the company to work closely with solar ecosystem partners and provide customers with “seamless access to financing solutions”.

Credit Fair, founded in 2018, is a green energy financing platform focused on rooftop solar loans. It has processed more than 350,000 loans across more than 20 states and disbursed more than Rs 1,300 crore since inception.

Its solar ecosystem partners include Tata Power, Waaree, SolarSquare, UTL Solar, Livguard, Navitas and Adani Solar.

Aditya Damani, founder and CEO of Credit Fair, said the business was built “to make renewable energy more accessible”.

He said the platform was positioned for its next phase of growth, with the potential to scale from financing 80MW currently to enabling 1GW of distributed renewable energy capacity over time.

BlackSoil Capital is a tech-enabled, non-deposit-taking non-banking financial company registered with the Reserve Bank of India. It was formed in 2016 through the acquisition of Sarvodaya Capital, according to ICRA.

Following its merger with Caspian Impact Investments, the company now operates under the BlackSoil brand. It provides finance to emerging micro, small and medium companies, growth companies and financial institutions.

BlackSoil Group also manages a SEBI-registered alternative investment fund. As of March 2026, the group managed assets of about Rs 2,500 crore, according to a media report.