Orb Energy, a vertically integrated solar energy solutions provider, has reached a groundbreaking milestone by crossing ₹300 crore in financing disbursements through its innovative in-house finance facility. This achievement highlights Orb Energy’s commitment to transforming India’s energy landscape, particularly for micro, small, and medium enterprises (MSMEs) and small and medium businesses (SMBs), by making solar energy adoption more accessible and cost-effective.
A Comprehensive Solar Solution for Indian SMEs
Orb Energy is among the few companies in India managing the entire solar value chain in-house, from manufacturing and installation to financing. Recognizing the high upfront costs that have historically deterred SMEs from embracing solar energy, Orb Energy has pioneered a unique financing model. This model eliminates the need for collateral and down payments, enabling businesses to repay loans over five years while benefiting from decades of free electricity thereafter.
With solar panels offering a 25-year warranty, Orb Energy’s solutions provide long-term economic and environmental advantages. By easing the financial burden of transitioning to solar, the company has made clean energy adoption viable for SMEs and SMBs, significantly enhancing their operational efficiency and competitiveness.
Impressive Growth and Impact
To date, Orb Energy has deployed approximately 350 MW of solar photovoltaic (PV) installations across India, with a strong presence in the southern and western regions. The company’s accessible financing options have played a pivotal role in driving adoption, particularly among smaller enterprises seeking to reduce energy costs.
Damian Miller, Co-founder and CEO of Orb Energy, emphasized the significance of the company’s approach, stating, “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. By making solar adoption accessible, we are not only helping them transition to cleaner energy but also making their operations more cost-effective and competitive in their respective industries. Over time, the savings from reduced electricity expenses significantly enhances their profitability, creating long-term financial and environmental value.”
A Vision for Expanding Solar Accessibility
Looking forward, Orb Energy aims to disburse an additional ₹1,000 crore in solar financing over the next three years. This ambitious goal reinforces the company’s position as a leader in solar manufacturing with dedicated in-house financing for the SME sector.
As India advances toward its renewable energy targets, Orb Energy is set to play a critical role in empowering businesses to embrace sustainability. By lowering operational costs and simplifying the transition to solar, Orb Energy not only boosts the profitability of Indian enterprises but also contributes significantly to the nation’s broader environmental and economic goals.
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