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Orb Energy Plans Rs435 croreFundraise to Expand Solar Capacity

Bengaluru-based clean energy solutions provider, Orb Energy, is set to raise Rs435 crore to expand its solar power capacity, comprising Rs174 crore through equity and Rs261 crore through debt. The company has already installed over 300 MW of solar capacity and sold 1.7 lakh solar systems, aiming to scale its SME-focused rooftop and solar park solutions across multiple states.

Expansion Plans:

• 35 MW SME solar park in Arsikere, Karnataka: Fully sold out and to be commissioned this year.
• New 50 MW solar park in Gulbarga, Karnataka: Land procurement is currently underway.
• Additional Capacity Target: Aiming for 300 MW beyond the 100 MW already in the pipeline.
• Geographic Expansion: Extending operations into Maharashtra, Andhra Pradesh, Tamil Nadu, and Karnataka.

Focus on SME Market:

• Addressing Finance Challenges: Many SMEs lack the credit ratings required for Power Purchase Agreements (PPAs), making them underserved.
• Full-Stack Solution Approach: Orb Energy provides a seamless end-to-end service, including solar system design, installation, servicing, and financing.
• Revenue Source: 90% of the company’s revenue now comes from the SME segment.

Company Background:

Orb Energy, established in 2007, was one of the early movers in India’s solar industry and continues to bridge the financing gap for SMEs through in-house financing and strategic expansion into solar parks. The company expects to close its Series D funding round by April-May 2025 to support further growth.