Solar Energy Systems Maker Orb Energy Gets Rs 95 Cr From FMO And Others


Solar Energy Systems Maker Orb Energy Gets Rs 95 Cr From FMO And Others

Solar energy systems maker Orb Energy has raised over Rs 95 crore ($15 million) in a part-equity and part-debt round from the Dutch development bank FMO, self-sustaining US government agency Overseas Private Investment Corporation (OPIC), African finance institution Pamiga and Germany’s development finance institution DEG.

With this, the total capital raised by the company stands at $26 million. With over $10 million of this round raised as long-term debt from OPIC, Orb is looking to use the capital to grow its in-house finance facility of rooftop solar panels for Indian SMEs and to further expand its Kenya operations.

Orb’s in-house platform provides finance to SMEs looking to reduce electricity costs through ownership of a rooftop solar system. To make the adoption of solar panels easier, Orb offers finance packages without collateral. Read More…

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