Orb Energy, a vertically integrated provider of solar energy solutions in India, has received a $20 million follow-on loan from the United States International Development Finance Corporation (DFC) to support its in-house financing facility for rooftop and ground-mounted solar customers in India.
The company will be using these funds to extend further finance to its small to medium scale enterprises (SME) customers to enable them to gain quick and easy access to the rooftop and ground-mounted solar systems from Orb that can dramatically improve their competitiveness. The company manufactures its own range of solar panels, designs, installs, and services solar systems, and also provides critical finance for up to 5 years to its commercial and industrial customers. Orb received its first loan from DFC for $10 million, also to support its in-house finance for SMEs.