ThunderPlus Makes History: India’s First EV Charging CPO to Secure Institutional Debt Funding from State Bank of India
Hyderabad, March 2026 — ThunderPlus, one of India’s fastest-growing EV charging infrastructure companies, has scripted a landmark moment for the electric mobility sector by becoming the first profitable Charge Point Operator (CPO) in the country to secure institutional debt funding from the State Bank of India.
The ₹3 Crore structured debt facility sanctioned under the Government of India’s CGTMSE framework is a strong institutional validation of ThunderPlus’s disciplined and profitability-driven EV infrastructure business model.
Revenue in Year 1
Profitable Expansion
SBI Debt Funding
Charge Points
A Milestone for India’s EV Infrastructure
In a sector often perceived as capital intensive and dependent on equity-led burn, ThunderPlus has built its charging network on strong unit economics, operational efficiency, and disciplined capital allocation.
Started in January 2024, the company closed its first year with ₹10 Crore+ in revenue and positive EBITDA. By December 2025, the company had already surpassed these numbers and is on track to close ₹16 Crore revenue by March 2026 — representing a 60% growth trajectory.
This consistent performance enabled India’s largest public sector bank, State Bank of India, to extend institutional debt based on demonstrated operational strength and financial discipline.
State Bank of India on ThunderPlus
“It is very inspiring to witness the journey of ThunderPlus — the only CPO to be profitable, and what makes it even more remarkable is that this organization is based right here in Hyderabad. SBI is proud to support ThunderPlus in its growth and looks forward to contributing to this incredible growth story.”
— Srinivasu Pamu, Assistant General Manager, Commercial Branch Secunderabad, stated, State Bank of India
Leadership Perspective
“This is not just funding — it is institutional validation. From day one we focused on building a charging network rooted in profitability, operational efficiency and responsible capital deployment. The depth of due diligence undertaken by SBI reinforces our confidence in our systems and long-term execution capability.”
— Rajeev YSR, Executive Director & CEO, ThunderPlus
Trusted by India’s Leading Mobility Brands
- Tata Motors
- Turno
- Flixbus
- Freshbus
- Ather Energy
- JBM
ThunderPlus has executed more than 50 national-level EV charging infrastructure contracts across India, creating strong utilization and revenue visibility.
Network Scale
- 250+ Charging station hubs
- 1,000+ charge points deployed
- Presence across 16 states
- 4+ average charging sessions per charger per day
The Green Impact
- 16,000 units of clean energy dispensed daily
- 60 million green kilometres enabled annually
- 10,000 metric tonnes of CO₂ saved per year
- Equivalent of planting 300,000 trees
About ThunderPlus
ThunderPlus is India’s fastest-growing EV charging network and the only profitable Charge Point Operator (CPO) in the country. Headquartered in Hyderabad, the company operates 250+ charging stations across 16 states and serves more than 35 enterprise clients.
The company has strategic partnerships with Tata Motors, Ather Energy, Mahindra and several other mobility leaders.