ORE announces its first investment into Gham Power

ORE announces its first investment into Gham Power

One To Watch is delighted to make the announcement of the first investment for the Off-grid Renewable Energy (ORE) fund in Nepal. With a focus on increasing the scope for entrepreneurial development and saving the biodiversity in the Himalayas, the impact investments in ORE have already contributed to thriving communities and curbing Co2 emissions. ORE invests in solar developers, building up their capacity to construct and install solar systems. Additionally, the fund also directly invests in solar assets by providing up-front project financing.

Solar irrigation or Agro-Processing (AP) systems are a viable solution to the problem of inadequate irrigation, faced by many farmers in Nepal. There is a great opportunity to deploy such systems coupled with the right financing solutions as the AP systems are too capital intensive for farmers in Nepal. ORE is investing in solar irrigation systems, providing farmers with upfront financing of the system, allowing the farmers to repay their loan over a period of 36 months, from their own earnings and therefore, making these systems accessible to all farmers.

Farmers with the AP systems installed by Gham Power

These systems also increase the productivity of the farmlands and limit the use of diesel generators, thereby contributing to a cleaner environment.

Similarly, ORE is investing in rooftop solar installations in what is called C&I (commercial & industrial) solar solutions. Businesses in Nepal struggle with rising electricity costs. With falling solar prices, solar roof-top solutions can help these businesses lower their energy cost by up to 20%. But solar systems have high initial cash outlay and long-term operational risks which deters a lot of businesses to install solar despite understanding its savings potential. To address these concerns, ORE is joining forces with solar developers such as Gham Power Nepal to provide PPA-type deals to commercial businesses to buy solar electricity without owning and maintaining solar assets.

Gham Power team working on the finishing touches of the 415 kWp C&I installation at Yak & Yeti Hotel in Kathmandu

Within this model, Gham Power plans to build and operate 49 MW over the next 5 years.

ORE is looking to collaborate with similar solar developers and like-minded impact investors. Interested in ORE and its energy impact? Visit https://lnkd.in/gXJ4d-9 or contact us at [email protected]