Shell takes 20 per cent stake in Indian solar firm Orb Energy
A Royal Dutch Shell Plc division took a 20 per cent stake in Indian solar firm Orb Energy Pvt Ltd as part of a drive to deliver a reliable source of electricity to 10 crore people in the developing world by 2030.
Orb Energy, based in Bengaluru, provides credit to small and medium-sized firms to invest in solar panel systems. Founded in 2006, Orb Energy has sold over 1.6 lakh solar systems in India with a total capacity of 75 megawatts.
This is a vital and growing sector, with great potential to contribute to the country’s renewable energy ambitions, Brian Davis, Vice President in the Shell Energy Solutions division said in a statement.
