Orb Energy, a provider of solar energy solutions in India, announced that Shell’s New Energies business has acquired an almost 20% stake in the firm in its latest funding round.

Orb Energy has sold more than 160,000 solar systems in India, with cumulative installations of approximately 75MW of rooftop solar systems. Orb is head-quartered in Bangalore, where it has two factories: one producing solar photovoltaic panels and one producing solar water heating systems.

Orb Energy offers SMEs credit to invest in their own rooftop solar systems, and the investment will support future growth

Existing investors in Orb Energy include FMO (The Netherlands), Bamboo Capital Partners (Luxembourg), Rianta Capital (Switzerland), Acumen Capital Market Funds I (USA), and Pamiga SA (Luxembourg).

Tags:
Shell   Solar   M&A  

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