Coimbatore-based Adwaith Textiles has tied up with Bengaluru’s Orb Energy for the installation of a 1 MW rooftop solar system.
The system, which was commissioned recently is expected to generate 15 lakh units of clean energy a year. Adwaith Textiles expects to save over ₹65 lakh a year on electricity bills.
Ravi Sam, Managing Director, Adwaith Textiles, said, “Thanks to Orb, we expect to produce around 4,500 units of solar power a day.”
Damian Miller, CEO, Orb, said the company offers collateral-free solar loans to SMEs as many of them cannot afford rooftop solar systems without finance. The term matches the payback period, after which the power from solar is effectively free.”
“Since inception in 2006, we’ve sold more than 1.6 lakh solar systems with cumulative installations of more than 40 MW,” Miller said.
Adwaith Textiles has invested with a payback of three years, Sam said.