FMO

FMO, the Dutch entrepreneurial development bank, is a financial institution based in The Hague, Netherlands, founded in 1970 through a collaboration between the Dutch government and various financial entities. It focuses on supporting the private sector in developing countries and emerging markets across Asia, Africa, Latin America, and Central and Eastern Europe. FMO provides a diverse range of financial products, including long-term project financing, private equity, loans, guarantees, and mezzanine financing. Its investment portfolio is primarily allocated to financial institutions, energy, agribusiness, food and water, and private equity. By offering capital, expertise, and networks, FMO aims to foster sustainable economic development and empower local businesses and projects.

Linda Broekhuizen

Chief Investment Officer

Aleksandra Gazy

Investment Officer

Michael Jongeneel

CEO

Huib-Jan de Ruijter

Chief Investment Officer

Past deals in Solar Energy

Acciona

Post in 2025
Acciona is a leading Spanish corporation specializing in sustainable solutions for infrastructure and renewable energy projects. Established over a century ago, it employs more than 30,000 people and operates in over 30 countries across five continents. The company is structured into two main divisions: energy and infrastructure. The energy division emphasizes renewable technologies, focusing on wind, solar, hydro, and biomass, while the infrastructure division includes construction, water treatment, and various service lines. Acciona undertakes projects through government concessions or independent opportunities, ensuring a commitment to sustainability through its Sustainability Master Plan, which aims to facilitate the transition to a low-carbon economy by optimizing resource use and minimizing environmental impact.

Hydrobox

Debt Financing in 2024
Hydrobox specializes in the development and manufacturing of hydropower plants that harness the energy of flowing water to generate electricity. The company focuses on renewable energy solutions, including mini-grids and solar power, aimed at improving electrification and reliability in off-grid areas, particularly in Kenya. By leveraging advanced AI technology and smart grid services, Hydrobox enhances the efficiency and sustainability of its energy systems, contributing to broader efforts in promoting clean energy and environmental sustainability.

Nithio

Debt Financing in 2024
Nithio Holdings is an energy finance company established in 2018 and headquartered in Washington, D.C. It specializes in providing data-driven financing solutions to small and medium-sized enterprises (SMEs) in the off-grid energy sector across sub-Saharan Africa. Nithio leverages a proprietary artificial intelligence risk analytics engine to support distributed energy service companies, capital providers, governments, and other stakeholders involved in the solar energy market. The company focuses on enhancing access to solar home systems, productive use appliances, agribusiness, and microfinance, thereby facilitating sustainable energy solutions in underserved regions.

Ecofy

Debt Financing in 2024
Ecofy is a non-banking financial company (NBFC) based in India that specializes in providing financial solutions exclusively for eco-friendly initiatives. The company offers a range of services, including loans, leases, and insurance, aimed at promoting sustainability and encouraging users to make environmentally responsible choices. Ecofy's platform focuses on green asset classes, such as electric vehicles, rooftop solar installations, and energy efficiency projects, thereby assisting businesses and individuals in reducing their carbon footprint. By prioritizing green financing, Ecofy plays a significant role in supporting the transition toward a more sustainable future.

Red Rocket South Africa

Venture Round in 2023
Red Rocket South Africa, established in 2011 and headquartered in Cape Town, specializes in the development, design, construction, operation, and ownership of utility-scale grid-connected renewable energy projects across Africa. The company focuses on wind, solar, hydro, and biomass power generation, with operations spanning multiple countries on the continent.

Okra Solar

Series A in 2023
Okra Solar is an innovative technology company based in Sydney, Australia, focused on facilitating access to affordable solar energy for rural and off-grid communities. Founded in 2016, the company has developed a plug-and-play smart grid solution that leverages IoT technology, machine learning, and mobile payments to enable solar generating communities to share and efficiently utilize energy. Its modular grid design allows for rapid electrification of last-mile areas, while cloud software provides real-time data to utility companies, helping them manage and scale solar networks effectively. By connecting these communities to reliable and affordable energy sources, Okra Solar aims to integrate them into the modern economy and promote energy abundance.

Africa Ren

Debt Financing in 2023
Africa Ren is a renewable energy company specializing in solar power plants, storage solutions, and lighting services. It produces photovoltaic electricity to expand access to power and promote energy self-sufficiency across Africa. The company connects its assets to the grid or off-grid systems to supply commercial and industrial clients with clean electricity, thereby reducing environmental impact.

Sun King

Debt Financing in 2023
Sun King is a solar energy company that designs, manufactures, distributes, and finances solar home energy products for households and small businesses in Africa and Asia. The company produces solar home systems, inverter systems, solar lamps, LED lights, portable solar chargers, and portable lanterns to provide reliable energy to communities without dependable power. It offers pay-as-you-go financing to reduce up-front costs and enable flexible installments. Sun King sells through an international distribution network to expand the off-grid market and make affordable solar energy accessible.

GreenYellow

Debt Financing in 2023
GreenYellow is a company that specializes in generating electricity through centralized power plants and decentralized photovoltaic projects. It offers solar panels and provides energy supply services to a diverse range of clients, including food and non-food retailers, government agencies, public utilities, and energy providers. The company's focus on energy efficiency includes operating energy efficiency contracts and offering monitoring services that help clients reduce their energy costs. By promoting solar photovoltaics and energy optimization, GreenYellow enables its customers to produce and manage clean energy, thereby creating value and providing a more affordable alternative to conventional energy sources.

Genneia

Debt Financing in 2023
Genneia S.A. is an Argentine company focused on providing sustainable energy solutions. Founded in 1991 and based in Olivos, it generates electricity through a combination of thermal power plants, which utilize both biofuel and conventional methods, along with a wind farm located in Chubut. The company not only generates energy but also transports and distributes natural gas, contributing to the local energy infrastructure. Genneia is committed to developing and operating projects that harness renewable sources, including wind and solar, with an emphasis on high energy efficiency and reducing environmental impact.

AMEA Power

Debt Financing in 2022
AMEA Power is a company focused on the development, ownership, and operation of renewable energy projects, aiming to facilitate the transition to clean energy. It operates a diverse portfolio that includes thermal, wind, solar, battery storage, ammonia, and water desalination plants. By providing a variety of power solutions, AMEA Power seeks to support economic development and enhance living standards, particularly in emerging markets across Africa and other regions. The company is committed to delivering reliable and sustainable energy to meet the needs of the communities it serves, contributing to both environmental sustainability and economic growth.

SolarX Africa

Convertible Note in 2022
SolarX is a renewable energy company based in Bamako, Mali, specializing in the design, supply, and installation of grid-connected solar photovoltaic systems for commercial and industrial clients in West Africa. Founded in 2020, the company offers a range of turnkey renewable solutions, including engineering, procurement, installation, commissioning, and financial leasing. Its product offerings encompass grid-connected photovoltaic systems that allow direct electricity use, PV-diesel hybrid systems that combine solar and diesel generators, solar pumping systems for water supply during daylight hours, and stand-alone PV systems equipped with batteries for independent energy use. By providing clean and efficient solar solutions, SolarX aims to facilitate the adoption of renewable energy and promote sustainable practices in the region.

SolarX Africa

Series B in 2022
SolarX is a renewable energy company based in Bamako, Mali, specializing in the design, supply, and installation of grid-connected solar photovoltaic systems for commercial and industrial clients in West Africa. Founded in 2020, the company offers a range of turnkey renewable solutions, including engineering, procurement, installation, commissioning, and financial leasing. Its product offerings encompass grid-connected photovoltaic systems that allow direct electricity use, PV-diesel hybrid systems that combine solar and diesel generators, solar pumping systems for water supply during daylight hours, and stand-alone PV systems equipped with batteries for independent energy use. By providing clean and efficient solar solutions, SolarX aims to facilitate the adoption of renewable energy and promote sustainable practices in the region.

d.light

Debt Financing in 2022
d.light develops solar-powered lighting and power products, including lights, radios, televisions, fans, and other home appliances. Their rechargeable solar kits aim to improve health, increase productivity, and enhance the quality of life for users in rural and semi-urban areas by providing access to clean energy.

d.light

Venture Round in 2021
d.light develops solar-powered lighting and power products, including lights, radios, televisions, fans, and other home appliances. Their rechargeable solar kits aim to improve health, increase productivity, and enhance the quality of life for users in rural and semi-urban areas by providing access to clean energy.

ZOLA Electric

Debt Financing in 2021
ZOLA Electric specializes in providing off-grid solar solutions, primarily serving African markets. It offers solar home kits through leasing or sales, targeting individual households and businesses in rural communities across Tanzania, Rwanda, Ghana, and the Ivory Coast. Founded in 2012, ZOLA Electric operates from Arusha, Tanzania with an additional office in San Francisco, California.

Easy Solar

Series A in 2020
Easy Solar is a prominent energy distribution company focused on providing solar solutions to off-grid communities in West Africa, particularly in Sierra Leone and Liberia. The company specializes in financing high-quality solar products, including solar lanterns and home systems, aimed at individuals with limited or no access to conventional electricity sources. Easy Solar offers flexible payment plans, allowing customers to make an initial deposit followed by weekly or monthly installments, payable through cash or mobile money. Since its inception, the company has positively impacted over 400,000 beneficiaries by leveraging a vast network of agents and outlets, thereby facilitating the transition to eco-friendly and affordable energy solutions.

Sun King

Private Equity Round in 2020
Sun King is a solar energy company that designs, manufactures, distributes, and finances solar home energy products for households and small businesses in Africa and Asia. The company produces solar home systems, inverter systems, solar lamps, LED lights, portable solar chargers, and portable lanterns to provide reliable energy to communities without dependable power. It offers pay-as-you-go financing to reduce up-front costs and enable flexible installments. Sun King sells through an international distribution network to expand the off-grid market and make affordable solar energy accessible.

Oceans of Energy

Grant in 2020
Oceans of Energy is a Netherlands-based company that specializes in the development of offshore floating solar systems aimed at generating clean and sustainable energy. The company designs floating platforms that are engineered to endure harsh marine conditions, ensuring durability and stability through a robust mooring system. This technology allows for reliable connections to the energy grid, enabling governments and businesses in the energy sector to explore innovative approaches to energy production. By focusing on renewable energy solutions, Oceans of Energy contributes to the transition towards more sustainable energy sources.

Lakeside Energy

Debt Financing in 2019
Lakeside Energy is a renewable energy company sponsored by Pakistan's Naveena Exports.

SolarCreed

Debt Financing in 2019
SolarCreed is a developer of solar energy systems focused on empowering farmers in Africa to utilize solar power for agricultural purposes. The company offers a range of innovative products, including solar lights, solar pumps, and solar generators, designed to enhance the efficiency and productivity of small agribusinesses. By providing these sustainable energy solutions, SolarCreed aims to transform farming communities, enabling farmers to grow, preserve, package, and distribute food more effectively while reducing operational costs.

Avaada

Debt Financing in 2019
Avaada is a renewable energy company that develops and operates solar and wind power projects and is expanding into advanced clean energy solutions, including electrolyzer manufacturing and the development of green hydrogen and ammonia. It pursues environmental sustainability and social responsibility, integrating community development with its business goals to deliver long-term value. The company also works on sustainable aviation fuel and green methanol to support global decarbonization and help reduce emissions in India. Through its projects and manufacturing capabilities, Avaada aims to uplift local communities and contribute to energy access while scaling renewable generation and green fuels.

d.light

Series E in 2018
d.light develops solar-powered lighting and power products, including lights, radios, televisions, fans, and other home appliances. Their rechargeable solar kits aim to improve health, increase productivity, and enhance the quality of life for users in rural and semi-urban areas by providing access to clean energy.

ZOLA Electric

Debt Financing in 2018
ZOLA Electric specializes in providing off-grid solar solutions, primarily serving African markets. It offers solar home kits through leasing or sales, targeting individual households and businesses in rural communities across Tanzania, Rwanda, Ghana, and the Ivory Coast. Founded in 2012, ZOLA Electric operates from Arusha, Tanzania with an additional office in San Francisco, California.

Ignite Holding Company

Debt Financing in 2018
Kingo Energy, founded in 2013 and headquartered in Guatemala City, Guatemala, specializes in manufacturing solar energy systems aimed at providing reliable electricity to underserved rural communities. The company's mission is to improve the quality of life for individuals living without access to a dependable power grid, particularly in regions facing extreme poverty. Kingo offers a prepaid solar energy service that is more affordable than traditional lighting methods, such as candles and kerosene. Their solar energy kits can power essential household items, including light bulbs and mobile phone chargers, with payment options tailored to customers' budgets. Kingo has already benefited over 100,000 people, with significant reported improvements in cost savings, educational performance, and productivity among users. The company operates in Central America and South Africa, with ambitions to expand its reach to over 3 million individuals by 2020. Kingo's executive team comprises experienced professionals from various sectors, including consumer markets, telecommunications, and energy.

Azure Power

Post in 2018
Azure Power develops, constructs, owns, operates, maintains, and manages utility-scale renewable energy projects in India. It specializes in solar power generation, offering clean energy solutions to government and commercial entities through long-term contracts.

JCM Power

Venture Round in 2018
JCM Power is a Canadian-based developer and operator of renewable energy projects. It focuses on utility-scale solar photovoltaic and wind projects as well as HVDC transmission lines, developing and operating assets in growth markets across Africa, Latin America, and South Asia. Founded in 2009 and headquartered in Toronto, the company applies its Canadian development experience to international markets with rising demand for clean power, pursuing a diversified portfolio of renewable energy assets.

Orb Energy

Debt Financing in 2018
Orb Energy specializes in providing affordable renewable energy solutions to off-grid households in India. It offers solar home systems priced at USD 4 per month, reaching low-income customers through a robust retail distribution network comprising 90 branches. The company aims to expand its reach by doubling its branches and employees within two years, targeting an additional 250,000 people.

Azure Power

Post in 2017
Azure Power develops, constructs, owns, operates, maintains, and manages utility-scale renewable energy projects in India. It specializes in solar power generation, offering clean energy solutions to government and commercial entities through long-term contracts.

Ignite Holding Company

Series B in 2017
Kingo Energy, founded in 2013 and headquartered in Guatemala City, Guatemala, specializes in manufacturing solar energy systems aimed at providing reliable electricity to underserved rural communities. The company's mission is to improve the quality of life for individuals living without access to a dependable power grid, particularly in regions facing extreme poverty. Kingo offers a prepaid solar energy service that is more affordable than traditional lighting methods, such as candles and kerosene. Their solar energy kits can power essential household items, including light bulbs and mobile phone chargers, with payment options tailored to customers' budgets. Kingo has already benefited over 100,000 people, with significant reported improvements in cost savings, educational performance, and productivity among users. The company operates in Central America and South Africa, with ambitions to expand its reach to over 3 million individuals by 2020. Kingo's executive team comprises experienced professionals from various sectors, including consumer markets, telecommunications, and energy.

ContourGlobal

Debt Financing in 2017
ContourGlobal is an international power generation company headquartered in London, England, founded in 2005. The company develops, acquires, operates, and manages wholesale electric power generation assets, with a diverse portfolio that includes both thermal and renewable energy sources. ContourGlobal's renewable energy segment generates electricity from hydro, solar, wind, and biogas, totaling 1,808 MW, while its thermal energy segment, utilizing gas, coal, and oil, produces 2,509 MW. Overall, the company operates approximately 4,841 MW across 107 power plants in 18 countries and three continents, employing around 2,000 individuals. By focusing on long-term contracts and a variety of fuel types, ContourGlobal aims to create economic and social value in the communities it serves.

Mobisol

Series B in 2016
Mobisol GmbH is a Berlin-based company that specializes in the development and installation of solar home systems, aimed at providing clean and affordable electricity to low-income customers without access to conventional power sources. Founded in 2010, Mobisol offers modular solar energy solutions that power LED lights, radios, mobile phones, and various household appliances, along with productive use devices. The company combines solar technology with an innovative repayment scheme facilitated through mobile banking, making it accessible for its target market. With additional offices in Tanzania, Rwanda, and Kenya, Mobisol focuses on delivering a sustainable alternative to fossil fuels, enhancing energy access and promoting environmental sustainability in developing nations. As of October 31, 2019, Mobisol operates as a subsidiary of ENGIE SA.

Ignite Holding Company

Convertible Note in 2016
Kingo Energy, founded in 2013 and headquartered in Guatemala City, Guatemala, specializes in manufacturing solar energy systems aimed at providing reliable electricity to underserved rural communities. The company's mission is to improve the quality of life for individuals living without access to a dependable power grid, particularly in regions facing extreme poverty. Kingo offers a prepaid solar energy service that is more affordable than traditional lighting methods, such as candles and kerosene. Their solar energy kits can power essential household items, including light bulbs and mobile phone chargers, with payment options tailored to customers' budgets. Kingo has already benefited over 100,000 people, with significant reported improvements in cost savings, educational performance, and productivity among users. The company operates in Central America and South Africa, with ambitions to expand its reach to over 3 million individuals by 2020. Kingo's executive team comprises experienced professionals from various sectors, including consumer markets, telecommunications, and energy.
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