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OFF-GRID SOLAR FROM INDIA TO KENYA
Making off-grid solar energy systems more accessible to all
Orb Energy (Orb) is a leader in off-
grid solar energy systems in India.
With a US$ 2 mln common equity
investment from the Access to
Energy Fund, Orb expanded its
business to Kenya.
CLIENT CASE: ORB ENERGY
OFF-GRID SOLAR FROM INDIA TO KENYA
INDIA, KENYA
Client
Orb Energy Ltd.
Sector
Renewable energy
FMO INVESTMENT
FMO investment
US$ 2.0 mln
Total assets Orb
US$ 5.86 mln
Type of business
Design, manufacturing, and
retailing of off-grid solar
power systems and water
heaters
CLIENT CASE: ORB ENERGY
Total project size
US$ 4.4 mln
Financial products used
Equity
Making off-grid solar energy systems more accessible to all
An investment for ‘unelectrified’ and
‘under-electrified’ households
• Lack of access to electricity is an urgent
problem in both countries where Orb is
active: India and Kenya
• Orb was founded by former executives of
Shell’s solar business unit following the
decision of Shell to discontinue its
investments in solar energy
• Orb offers a unique approach to the solar
market by reaching out to the poorest
areas, as well as to the wealthier regions
where power is inconsistent and/or very
expensive
IMPACT AND PERFORMANCE
3
596 JOBS SUPPORTED
(direct employees & franchise staff)
8.982 MWH OF POWER PRODUCED
(energy)
85.000 SYSTEMS SOLD TO DATE
Number of people reached (energy)
CLIENT CASE: ORB ENERGY
35.000 METRIC TONS OF CO2
AVOIDED PER ANNUM
OFF-GRID SOLAR FROM INDIA TO KENYA
Making off-grid solar energy systems more accessible to all
Knowledge from India to Kenya
• With the investment, Orb is now replicating
its approach in Kenya, by adding 50
branches over the next 2 years
• Orb’s outreach to Kenya will contribute to
increased renewable energy supply to the
population and businesses
• The investment overcomes a common
issue that comes with off-grid solar
systems: high up-front costs that the poor
cannot afford
• Orb has developed a system with
microfinance institutions that directly
provides consumer finance loans. In this
way, the company makes the use and
benefit of off-grid solar devices more
accessible to a wider public
Overcoming the problem of high costs
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5
Disclaimer
The information used in this document is strictly confidential. By acceptance of this document, the recipient agrees to
keep the information in this document confidential to such person. The information is neither to be disclosed to any other
person, nor copied or reproduced in whole or in part, without the prior written consent of Nederlandse Financierings-
Maatschappij voor Ontwikkelingslanden N.V. (“FMO”). The distribution of this document in certain jurisdictions may be
restricted and accordingly persons into whose possession this document may come are required to have themselves
informed of and to observe any such restrictions. This document is intended to present general information and does not
constitute an offer for, or an invitation to subscribe to or acquire, any interests in one or more investment funds and does
not constitute investment advice.
5
ADDRESSING CHILD MALNUTRITION AT SCALE
Financing a Green Field processing plant in Rwanda
“This joint venture demonstrates
the increasing role that business
can play in helping to solve the
world’s greatest challenges.”
Ute Schick, CEO of Africa Improved Foods
ADDRESSING CHILD MALNUTRITION AT SCALE
7CASE STUDY
RWANDA
Client
Africa Improved Foods
Holding BV
Sector
Agribusiness
Size
Green Field
FMO INVESTMENT
Investment amount
US$13 mln from the Infrastructure Development Fund
Year of investment
2015
Financing a Green Field processing plant in Rwanda
The importance of ensuring adequate
nutrition
• Malnutrition in pregnant mothers and young
children is devastating for a child’s mental and
physical development.
• Hinders a child’s development, country’s
future productivity and growth.
Africa Improved Foods – scaling up
nutritional solutions for infants
• Established by Royal DSM, AIF is unique
partnership of private and public partners
• AIF will construct and operate a 45,000 tons
per year processing plant for fortified cereals.
• A significant portion will be sold to the World
Food Program and distributed to the most
vulnerable populations.
Product
Senior debt and equity
IMPACT AND PERFORMANCE
ADDRESSING CHILD MALNUTRITION AT SCALE
Food and nutrition security
8CASE STUDY
• Producing fortified cereals by sourcing
soybeans and maize locally from Rwandan
farming cooperatives,
• Offering 9,000 farmers a stable, sustainable
income for a proportion of their harvest.
• By 2017 the company aims to reach more
than 1 million people annually with adequate
nutrition.
230 jobs supported
Additional income opportunities for 9,000
farmers in Rwanda
Financing a Green Field processing plant in Rwanda
Fortified food for infants
Support to agri-manufacturing and related
value chains in Africa
More than 700,000 children will get access
to fortified blended food annually,
supporting the prevention and treatment
of malnutrition among vulnerable
populations.
SUSTAINABLE AGROFORESTRY THROUGH PRIVATE EQUITY
Supporting small-scale farmers in developing economies
The Moringa Fund is focused on
creating economic benefits from
agroforestry for its investors and
local communities while contributing
to building environmental and social
resilience in land use.
CLIENT CASE: MORINGA FUND
SUSTAINABLE AGROFORESTRY THROUGH PRIVATE EQUITY
LATIN AMERICA
AND AFRICA
Sector
Agroforestry
Total fund size
EUR 60 mln
FMO INVESTMENT
Investment Amount
EUR 10 mln
(EUR 5 mln for Africa fund
and EUR 5 mln for Latam
fund)
Supporting small-scale farmers in developing economies
The potential of agroforestry
• The Moringa Fund combines forestry
activities with cattle ranging and food crops
• Globally agroforestry can address the
growing demand for sustainable agriculture
and forestry products
An innovative fund
• A highly innovative fund whose core
strategy is ecosystem restoration for the
benefit of small-scale farmers
• FMO supports the fund as a unique
partner for developing innovative impact
investments in the agriculture and the
forestry sector
CLIENT CASE: MORINGA FUND
Year of investment
2013
Financial product used
Private Equity
IMPACT AND PERFORMANCE
SUSTAINABLE AGROFORESTRY THROUGH PRIVATE EQUITY
Development impact
11
Supporting small-scale farmers in developing economies
Timber
Fruit trees
500-1000 jobs created per investment
Industrial tree crops
CLIENT CASE: MORINGA FUND
Biomass
AGROFORESTRY
Cattle ranging
• Positive environmental impacts by bringing
fertility to previously degraded land and
preventing erosion
• Trees and crops can be sold providing a
more stable income to local populations
• Forestry and agricultural proceeds are meant
for local markets which improves availability
and affordability of the products
• This funds fits well to FMO’s strategy
focusing on doubling our impact while halving
our footprint
• The success will help agroforestry become
an example of producing food and wood in a
positive impact manner