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Shell picks up 20% stake in Bengaluru-based solar power firm Orb Energy

Founded in 2006, Orb Energy has sold over 160,000 solar systems in India with a total capacity of 75 megawatts

Jeremy Hodges | Bloomberg 

Photo: Bloomberg
Photo: Bloomberg

A Royal Dutch Plc division took a 20% stake in Indian solar firm Orb Energy Pvt Ltd. as part of a drive to deliver a reliable source of electricity to 100 million people in the developing world by 2030.

Orb Energy, based in Bengaluru, south India, provides credit to small and medium sized firms to invest in solar panel systems. Founded in 2006, Orb Energy has sold over 160,000 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 Energy Solutions division said in a statement.

The deal is the latest of several has made in India, aimed at reducing energy poverty through investment in Africa and Asia. In 2018, the oil major invested in an Indian company that builds and installs miniature power grids.

First Published: Thu, October 03 2019. 11:56 IST
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