Orb Energy Pte.Ltd.
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Orb Energy Pte Ltd. is a Bangalore based company which designs, manufactures, distributes and sells solar devices for the off-grid energy market including solar lights, home systems and water heaters. Orb Energy was established in 2007 and has expanded to 150+ retail stores across Southern India.
What is our funding objective?
The objective of FMO's equity investment is to finance 50% of the costs of Orb's role out of its business model in Kenya. Orb will be rolling out its franchised retail outlets across Kenya and will establish centralized distribution infrastructure. It will sell its full product lines of solar lanterns, solar home systems and solar water heaters to people in Kenya that lack full access to energy through the grid.
Why do we fund this investment?
FMO funded this project as it provides an innovative solution in providing off-grid energy solutions to communities in Kenya, a country where 85% of people do not have access to electricity. Orb brings extensive expertise in combining its off-grid solar product lines with financing solutions from local banks and microfinance institutions, this approach is designed to overcome the common problem of high up-front costs preventing people from using and benefitting from off-grid solar devices.The project is funded from the Access to Energy Fund and fits its objective to increase access to sustainable energy in Africa.
More investments
| Date | Total FMO financing |
|---|---|
| 3/31/2020 | USD 0.87 MLN |
| 12/20/2017 | USD 4.00 MLN |
- Country
- Kenya
- Sector
- Energy
- Effective date
- 1/15/2015
- Total FMO financing
- USD 2.00 MLN
- Funding
- AEF-I
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B