Oakridge Rooftops raises funds through a German Crowdinvesting Platform
- ByManjeet Singh | October 11, 2021
One of India’s leading distributed solar energy companies, Oakridge Rooftops Pvt Ltd, has received funding from Germany’s Bettervest GmbH crowd-funding platform.
After receiving approvals from New Delhi’s financial regulator BAFIN, Noida-based company Raising Capital raised funding for urban solar projects in Delhi. Financial details about the deal remain undisclosed.
The company’s CEO, Shravan Sampath, said the company is glad to be solarizing some of its solar projects in Germany through crowdfunding. “The timing is particularly important given that India is seen as an important catalyst in the upcoming COP 26 summit, and there is global awareness about India’s role in reducing the impact of climate change,” he said.
India’s first solar rooftop company is tapping into Europe’s large crowd finance market for project capital. Furthermore, it makes it easier for Indian firms to explore more innovative sources of international financing to develop renewable energy projects in India.
According to Mari Heib, CEO of Bettervest Gmbh, “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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