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Jun 30, 2022 16:51 CESTIndia's Oorja raises USD 1m to expand solar-powered farming services
Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.
October 18 (Renewables Now) - Oorja Development Solutions India Private Limited, an Indian provider of solar-powered services for the agriculture sector, last week said it has raised USD 1 million (EUR 862,000) in seed funding to expand its operations.
The funding round included a contribution from investment fund Schneider Electric Energy Access Asia, managed by France-based Schneider Electric (EPA:SU). In addition, Water & Energy for Food Grand Challenge (WE4F) and the DOEN Foundation have provided grant funding.
The funds will be used for solar-powered infrastructure projects in the agriculture sector and for Oorja to expand in northern India in the next 18 months.
The company's goal is to provide agricultural services, including irrigating, milling and cooling, for 10 million farmers around the world by 2030. By December 2022, 121 solar projects located in 22 clusters are expected to be deployed.
(USD 1 = EUR 0.862)
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