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Shell unit invests in Indian solar company

Shell Energy Solutions acquired an almost 20% stake in Orb Energy Pvt. Ltd. in the Indian solar provider's latest funding round.

Orb Energy offers small- and medium-sized enterprises credit to invest in their own solar systems, according to an Oct. 3 statement. Its existing investors include FMO, Bamboo Capital Partners, Rianta Capital, Acumen Capital Market Funds I and Pamiga SA.

"We look forward to supporting this company in reaching its potential, as we move closer to Shell's energy access ambition. That is, to provide a reliable electricity supply to 100 million people in the developing world by 2030," said Brian Davis, vice president of Shell Energy Solutions.

Unitus Capital acted as the exclusive financial advisor to Orb Energy for this transaction.

Shell Energy Solutions is a division of Royal Dutch Shell PLC.