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Shell Takes 20% Stake in Indian Solar Firm Orb Energy

Shell Takes 20% Stake in Indian Solar Firm Orb Energy

Jeremy Hodges: Oct 3, 2019 Bloomberg

(Bloomberg) — A Royal Dutch Shell 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 Shell Energy Solutions division said in a statement. read more

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