Orb Energy Pte.Ltd.
Who is our client
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.
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 we fund this project
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.
|Date||Total FMO financing|
|12/20/2017||USD 4.00 MLN|
- Signing date
- Total FMO financing
- USD 2.00 MLN
- Access to Energy Fund
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)