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Oakridge Rooftops Pvt Ltd has raised crowd financing from Germany for its portfolio of urban solar projects in New Delhi. The amount of funding was not disclosed
Oakridge has over 1,000 customers in North India, including over 400 projects in New Delhi. In collaboration with leading German crowd-funding platform Bettervest Gmbh, Oakridge obtained necessary regulatory approvals from the financial regulator BAFIN to list themselves for investment.
Oakridge specialised in offering solar rooftop solutions to individual, institutional and government clients located in urban areas. The solar solution involves providing clean solar power at a fixed price over a long-term contract.
Oakridge CEO Shravan Sampath said, “We are happy to be solarizing a part of our Delhi solar portfolio through crowdfunding through retail investors in Germany. We have always focussed on developing niche projects and offering best possible returns to our partners. It was nice to see the extent of interest there was in the German market for Indian projects.”
Marilyn Heib, CEO, Bettervest Gmbh said, “Oakridge is one of our premium partners in the solar space, and the Oakridge rooftops’ portfolio is also the single largest project we have ever financed until date."
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