Latest News | Orb Energy Provides over Rs 300-cr Finance for SMEs to Adopt Solar Energy Solutions

New Delhi, Jan 13 (PTI) 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.

Also Read | EPFO ATM Card, Mobile App: From EPFO 3.0 Launch Date to Withdrawal Limits, Here's All You Need To Know.

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.

Also Read | What Is a Penny Stock? Risks, Rewards and Other Details About Shares of Companies That Trade at Low Prices.

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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)