Mumbai: NetZero Finance Private Limited (NFPL), the financing arm of Aerem Solutions Private Limited (ASPL), on Thursday announced that CARE Ratings Ltd. has assigned a long-term rating of CARE BBB Stable and a short-term rating of CARE A3 to its bank facilities worth ₹250 crore. This rating underscores NFPL’s robust integrated group structure, comfortable capitalization, and experienced leadership driving solar rooftop financing across India.
The ratings reflect NFPL’s strong backing from Aerem Group’s diversified investor base, including Blume Ventures, Avaana Sustainability Fund, British International Investment, SMBC Asia Rising Fund, and UTEC LLP, with a tangible net worth of ₹100 crore for NFPL and ₹220 crore consolidated as of December 31, 2025. Key strengths include technology-enabled underwriting via AeROC remote monitoring, healthy asset quality, and a capital adequacy ratio of 42.23%. The stable outlook signals expectations of consistent growth while maintaining asset quality in the distributed solar ecosystem.
Anand Jain, Founder & CEO of Aerem Solutions, said: “This CARE BBB Stable rating is a testament to our integrated model’s strength in scaling rooftop solar financing responsibly. Backed by our comprehensive use of technology platform, we are well-positioned to fuel India’s clean energy transition for MSMEs and households nationwide.”
Vikesh Agrawal, Co-Founder & COO of NetZero Finance, added: “This rating validates our disciplined underwriting and risk management approach. It strengthens our capacity to finance rooftop solar adoption across commercial, industrial, and residential segments, driving sustainable growth.”
This credit rating enhances NFPL’s ability to scale its ₹270 crore assets under management (AUM), focused on commercial & industrial, supply chain, and residential solar financing. Led by Founder & CEO Anand Jain and Co-Founder & COO Vikesh Agrawal, the team brings decades of expertise in renewables and financial services. It positions Aerem Group to accelerate clean energy adoption amid government initiatives like PM Kusum Yojana and PM Surya Ghar Muft Bijli Yojana.
