Orb Energy Achieves Rs 3 Bn Milestone in Solar Financing Success
15 Jan 2025
2 Min Read
CW Team
Orb Energy, a vertically integrated solar energy solutions provider, has achieved a significant milestone by surpassing Rs 3 billion in financing disbursements through its in-house finance facility that requires no collateral or down payment. This accomplishment underscores its dedication to supporting small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India in transitioning to cost-effective solar energy solutions.
The company has installed approximately 350 MW of solar photovoltaic systems nationwide, with a strong foothold in southern and western India. Its in-house financing model offers repayment terms of up to five years, effectively lowering the financial barriers that often deter SMEs from adopting solar energy due to high upfront costs.
Highlighting this challenge, Co-founder and CEO Damian Miller noted that traditional financing hurdles have discouraged solar adoption among SMEs. However, Orb Energy鈥檚 approach addresses this issue, facilitating the shift to cleaner energy while reducing operational expenses. He emphasized that after loan repayment, clients benefit from years of cost-free electricity, supported by solar panels with a 25-year warranty.
Looking forward, the company intends to disburse an additional Rs 10 billion in financing over the next three years, solidifying its position as the only solar manufacturer offering in-house financing for SMEs. The initiative is part of its broader goal to help Indian businesses reduce costs, boost profitability, and support the country's renewable energy objectives.
Orb Energy, a vertically integrated solar energy solutions provider, has achieved a significant milestone by surpassing Rs 3 billion in financing disbursements through its in-house finance facility that requires no collateral or down payment. This accomplishment underscores its dedication to supporting small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India in transitioning to cost-effective solar energy solutions.
The company has installed approximately 350 MW of solar photovoltaic systems nationwide, with a strong foothold in southern and western India. Its in-house financing model offers repayment terms of up to five years, effectively lowering the financial barriers that often deter SMEs from adopting solar energy due to high upfront costs.
Highlighting this challenge, Co-founder and CEO Damian Miller noted that traditional financing hurdles have discouraged solar adoption among SMEs. However, Orb Energy鈥檚 approach addresses this issue, facilitating the shift to cleaner energy while reducing operational expenses. He emphasized that after loan repayment, clients benefit from years of cost-free electricity, supported by solar panels with a 25-year warranty.
Looking forward, the company intends to disburse an additional Rs 10 billion in financing over the next three years, solidifying its position as the only solar manufacturer offering in-house financing for SMEs. The initiative is part of its broader goal to help Indian businesses reduce costs, boost profitability, and support the country's renewable energy objectives.
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