Orb Energy provides over Rs 300-crore finance for SMEs to adopt solar energy solutions

Solar energy solutions provider Orb Energy on Monday said it has reached a significant milestone, crossing Rs 300 crore in financing disbursements from its unique zero-collateral, zero-down payment in-house finance facility.

This achievement underscores the company's dedication to addressing the energy challenges faced by Indian enterprises, particularly Ministry of Micro, Small and Medium Enterprises (MSMEs) and Small and Medium-sized Business (SMBs), while enabling them to transition to cost-effective solar energy solutions, a company statement said.

To date, Orb Energy has successfully deployed about 350 MW of solar PV installations across India, with a particularly strong presence in the South and West regions.

"Financing has long been a major roadblock for MSMEs and SMEs in India when it comes to adopting solar energy. At Orb Energy, we've tailored our financing solutions to specifically address this challenge, enabling businesses to overcome upfront cost barriers with a zero-collateral and zero-down payment financial product," Damian Miller, Co-founder & CEO of Orb Energy, said.

Looking ahead, Orb Energy aims to disburse an additional Rs 1,000 crore over the next three years, further strengthening its position as the only solar manufacturer with in-house finance for the SME sector, it said.