Orb Energy Secures Follow-On Funding From DFC The fund will be used to extend the finance to the company's SME customers that enable them to gain quick and easy access to rooftop and ground-mounted solar systems

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Orb Energy, a vertically integrated provider of solar energy solutions in India, has received $20 million follow-on loan from United States international development finance corporation (DFC) to support its unique in-house financing facility for rooftop and ground mounted solar customers in India.

"We are delighted that the DFC has decided to back Orb Energy again with a second loan of $20 million. We will be using these funds to extend further finance to our SME customers to enable them to gain quick and easy access to rooftop and ground-mounted solar systems from Orb that can dramatically improve their competitiveness," said Damian Miller, CEO and co-founder, Orb Energy.

Founded in 2006, Orb Energy manufactures its own range of solar panels, design, installs and services solar systems, and also provides critical finance for up to 5 years to its commercial and industrial customers. The company has sold more than 160,000 solar systems in India, with cumulative installations of approximately 170MW of rooftop solar systems, claimed by the company in a statement.

"DFC's second loan to Orb Energy will further expand renewable energy use by SMEs across India. With DFC's loan, Orb Energy's work will create additional jobs and cut energy costs for businesses, boosting economic growth in a sector that is key to India's development goals," said Jake Levine, chief climate officer, DFC.

DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC also provides finance to small businesses and women entrepreneurs in order to help them create jobs in emerging markets. DFC investments adhere to strict guidelines that protect the environment, human rights, and worker rights.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Growing a Business

Walter Elias Disney

Uncle Walt

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

From Elite Athletes to Tech Titans — Discover the Surprising $100-Million Habit That Leads to Extraordinary Success

Success comes from mastering focus, eliminating distractions and prioritizing what truly matters.

Fundraising

These 30 International Entrepreneurs Really Are Solving the World's Problems

The world has countless problems, unless you're an entrepreneur, in which case the world has countless opportunities.

Business News

'I Want the Best People on Our Teams': Meta Is Laying Off More Than 3,000, CEO Mark Zuckerberg Calls for 'Extensive Performance-Based Cuts' — Read the Memo

In an internal memo shared on Tuesday, Zuckerberg said it's "going to be an intense year" at the company.