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One Renewable Energy Enterprise, Inc (OREE)

One Renewable Energy Enterprise, Inc provides affordable and renewable energy solutions.

Facts

Investee One Renewable Energy Enterprise (OREE), Inc, founded 2008
Location Philippines
Sector Energy
Funding period 2014-2015
Funding type Convertible debt
Website http://onerenewable.com.ph/oree/

 

Impact

Context

  • Approx. 3.1 million Filipino households (16% of the population) do not have access to electricity. Given the Philippines’ archipelagic nature, connecting all citizens to the grid would be costly and difficult to maintain. Hence, electricity prices are among the highest in Asia, and access is particularly limited in rural / remote areas
  • Kerosene lamps are currently used as a substitute, but have negative effects on the environment and people’s safety / health

Solution

  • OREE distributes, installs and maintains solar photovoltaic (PV) products across the Philippines. OREE’s 3 business lines are: (1) Wholesale trading of solar lamps and solar home systems, (2) Turn-key projects for solar lighting systems, water pumps etc., and (3) Service projects, i.e. design, installation and aftersales support
  • OREE delivers triple bottom line impact by providing renewable and affordable energy to rural low-income households, and reducing environmental damage through larger renewable energy projects

Impact depth

  • OREE makes solar energy available to low-income households, increasing productive work days and improving income opportunities for them
  • OREE enables households to increase savings of at least USD 94 p.a. from reduced spending on kerosene etc.; reduces risk from smoke inhalation and house fires and increases time to study and operate businesses

OREE contributes to:

  • Increased household income: Increases productivity hours leading to a potential increase in household income
  • Improved public health: Replaces the use of kerosene, which results in improved public health
  • Improved education: Improves health and longer studying hours help attain higher education Empowerment: Independence from high electricity rate, increases access to information and opportunities
Impact Reach 2013 2014 >2015 2016e
# of units sold 5'678 4'123 4'335 4'335
# of beneficiaries 28'390 20'615 21'775 21'775
Savings p.a. (USD '000s) 1'296 921 797 819