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PACT SIGNED: Mr G.K. Bhat, General Manager, Karnataka Bank, and Mr Damian Miller of Orb Energy Pvt Ltd, displaying the MoU signed at Mangalore on Friday.

Mangalore , Dec. 8

Karnataka Bank Ltd has signed a memorandum of understanding (MoU) with Orb Energy Pvt Ltd for financing solar equipment manufactured and marketed by the latter.

A bank release said here on Friday that the finance will be extended under bank's `KBL-Ravi Kiran' scheme.

The customers availing of finance under the scheme will get a benefit of sum equal to Rs 25 per watt peak, from Orb Energy Pvt Ltd. Mr G.K. Bhat, General Manager of Karnataka Bank, and Mr N.P. Ramesh, Chief Operating Officer of Orb Energy Pvt Ltd, signed the MoU on December 8.

Orb Energy Pvt Ltd expects to sell 10 and 20 MWp of photovoltaic products over the next five years with plans to reach more than one-lakh residential and commercial customers.

More Stories on : Consumer Finance | Private Banks | Alliances & Joint Ventures | Karnataka | Non-conventional Energy

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