Shell takes 20% stake in Indian solar firm in push to improve electricity access

A Royal Dutch Shell division took a 20% stake in Indian solar firm Orb Energy 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.

The deal is the latest of several Shell has made in India, aimed at reducing energy poverty through investment in Africa and Asia. In 2018, the oil major invested in an Indian company that builds and installs miniature power grids.

ZAR/USD
16.83
(+0.36)
ZAR/GBP
21.23
(+0.57)
ZAR/EUR
19.00
(+0.99)
ZAR/AUD
11.72
(+0.85)
ZAR/JPY
0.16
(+0.45)
Gold
1802.68
(-0.29)
Silver
18.64
(-0.18)
Platinum
835.00
(-1.41)
Brent Crude
43.32
(+0.49)
Palladium
1939.00
(+1.81)
All Share
55787.90
(-0.15)
Top 40
51536.91
(-0.04)
Financial 15
10339.64
(+0.63)
Industrial 25
77428.31
(-0.10)
Resource 10
52587.29
(-0.39)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1873 votes
I am taking a hit, but should be able to recover in the next year
23% - 2456 votes
My finances have been devastated
34% - 3652 votes
It's still too early to know what the full effect will be
25% - 2629 votes
Vote