Orb Energy Pte.Ltd.
Status: Approved investmentWhy disclosure?
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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 vertically integrated solar PV and solar thermal solutions provider, based in Bangalore, India. Orb manufactures, sells, installs, and services solar energy systems for commercial and residential customers. Orb was established in 2007 and began sales in Southern part of India, primarily catering the off-grid energy market by offering solar PV and thermal solutions to residential customers. The company is now increasingly moving towards the commercial and industrial (“C&I”) customers in the SME segment.
What is our funding objective?
The objective of FMO's equity investment is to finance the roll-out of the commercial rooftop PV sales strategy that also provides in-house financing to the customers and strengthen Orb’s presence in Kenya by expanding the branch network and increasing the manpower.
Why do we fund this investment?
Orb positions itself with a unique combination of manufacturing capabilities, EPC services, robust distribution networks, and recently, in-house financing services for Solar Thermal and PV systems. This extensive expertise Orb has built over the years will assist the company’s strategy to increase its presence in, economically viable and attractive, commercial rooftop solar market in India and replicate this differentiated strategy in Kenya as well. Orb matches FMO and IDF/AEF’s objective of bringing clean/affordable energy to both residential and SME customers in India and Kenya, hence is funded from IDF. The investment contributes to the SDG goals of Affordable and Clean Energy (7), Decent Work and Economic Growth (8), Industry, Innovation and Infrastructure (9) and Climate Action (13).
What is the Environmental and Social categorization rationale?
The investment is categorized as E&S category B.
More investments
| Date | Total FMO financing |
|---|---|
| 3/31/2020 | USD 0.87 MLN |
| 1/15/2015 | USD 2.00 MLN |
- Country
- India
- Sector
- Energy
- Effective date
- 12/20/2017
- Total FMO financing
- USD 4.00 MLN
- Funding
- Building Prospects
-
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