02 February 2015, Nairobi – ORB Energy, an Indian-based solar power firm plans to expand its local distribution after securing a Sh183.1 million ($2 million) equity investment from Netherlands Development Finance Company.
Orb, which entered Kenya early 2014 with a branch in lakeside city of Kisumu, targets 50 more distribution centres over the next two years, it said.
The solar firm plans to replicate its “developed” retail model in India.
It said it had sold 1,500 solar systems over the last one year to households and enterprises with a target of 100,00 systems over the next five years.
“Kenya is an excellent starting point for us in Africa as we have tremendous support from banking partners in Kenya to finance our customers,” chief executive Damian Miller said in a statement.
Solar Water Heating Regulations 2012 require property developers and homeowners whose buildings use more than 100 litres of hot water daily to fit them with power-saving solar heating panels.