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Funding

Orb Energy raises $15M, plans plant expansion

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Orb Energy logo
Date
Company
Orb Energy
What it does
Debt and equity from FMO, OPIC
Kind
Funding
Amount
$15M
Stage
Debt
Based in
Bengaluru
Founded
2006

What they do

Dutch lender FMO and the US development financier OPIC put in $15 million earlier in 2018

What happened

Orb planned to double its solar panel plant capacity from 60 MW to 120 MW

Why it matters

Management said it was also talking to investors for more equity and a further $40 million of debt

The details

  • FMO and OPIC provided $15 million in 2018.
  • Orb makes its own solar panels and solar water heaters in two plants.
  • The panel plant was about 1.5 years old and aimed to reach 120 MW.
  • The firm had raised about $23 million in equity and debt since 2006.

Investors

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