Shriram Finance is consolidating green finance programs, funding projects beyond electric vehicles, and reaffirming its commitment to green financing.
The company has launched a new subsidiary, Shriram Green Finance, to propel its green finance initiative.
The company aims to achieve an Asset Under Management (AUM) of Rs 5,000 crores for its green finance vertical within the next three to four years.
The company aims to unify the green finance industry by funding renewable energy products and solutions. It will raise global and domestic funds that are focused on green investments for onward lending to its constituency.
India’s EV market is rapidly expanding due to government initiatives, advanced technology, and environmental consciousness, with fast-charging and battery-swapping technologies prioritizing convenience.
Shriram Green Finance plans to expand its electric vehicle (EV) portfolio across India, focusing initially on Karnataka, Kerala, NCR, and Maharashtra.
It is forming long-term partnerships with EV manufacturing OEMs to provide seamless and accessible vehicle financing solutions.
Mr. Y. S. Chakravarti, Managing Director and Chief Executive Officer, Shriram Finance Limited, said, “The Green Finance vertical exemplifies our vision to build a sustainable ecosystem that benefits all stakeholders. This initiative underscores our dedication to enabling customers and partners to thrive in a low-carbon economy.”
Mr. Umesh Revankar, Executive Vice Chairman, Shriram Finance Limited, said, “As one of India’s leading financial institutions, we are deeply committed to environmental stewardship and our responsibility to empower stakeholders with sustainable financial solutions. This initiative is a testament to aligning our strategies with the global shift toward a greener economy, and we are charting a course for long-term value creation that balances profitability with purpose.”
