Orb Energy and the State Bank of India (SBI) have partnered as part of SBI’s Surya Shakti Solar Finance scheme. This partnership establishes Orb Energy as an authorised vendor for the scheme, which aims to improve financing options for solar power projects nationwide. SBI introduced the scheme to make solar energy solutions more accessible and affordable. This scheme will provide loans to Orb Energy’s residential, commercial, and industrial consumers to help them install rooftop solar systems.
According to this agreement, SBI will extend loans up to Rs 0.1 billion to commercial and industrial customers, requiring a minimum down payment of 20 per cent and offering extended repayment terms. Meanwhile, the bank will provide loans up to Rs 1 million for solar system installations for residential consumers.
