Jan 19, 2023
Karim Megherbi, Executive Director at Orisun Invest
Orisun Invest receives the "Outstanding Overseas Performer (MENA Based)/SMB 2022" award
During the World Future Energy Summit there's an event that most executives and senior based in the UAE working in renewable know: the Middle East Solar Industry Association (MESIA) Solar Awards!
This year a new category opened, "Outstanding MENA Based- Overseas Performer – Local Champions", and we submitted our application.
I was sure that it would be well-positioned as our business model is very unique and we have few noticeable, although modest, results. However these awards are well sought and there's a jury.
The result: we won!
This award has a big meaning to us as it shows that our young company is now among the credible players of the industry.
When I left my last job 3y ago to start another entrepreneur journey, I was still hesitating: should I try to create a fund or once again a developer?
I checked what were my skills, where I can make a difference, and what I really like. My conclusions: my skills are in the origination and I love working with everyone in the market. Not only people are fun and very professional, both business oriented and fighting for values which I share, but everyone has different strategies so you accumulate an incredible knowledge which is then worth diffusing.
All my past experiences with their ups and downs regrouped instantly in my mind to form a 5y strategy:
◾️ We will build one of the largest networks of originators and professionalize a segment which is still not well formatted
◾️ We will have our own digital tool
◾️ We will be paid mostly by investors 2-10kUSD/MW depending on the size and market, in milestones depending on the risk profile as we don't want any misalignment
◾️ We will generally not put our investors in competition on transactions: we are match makers and want to move fast
◾️ We will work closely with developers to prepare for their future needs
◾️ We will advise both parties: we're not financial advisors
◾️ No market restriction, the limit is our knowledge and contacts
◾️ We will add 2 activities, as our origination fees are too small for us to grow:
1/ We will raise funds to own some small assets and take minority positions in few projects
2/ We will develop some projects when we like them and are comfortable with the country
We're currently implementing this strategy and while we do make mistakes our results are encouraging:
✅ We've reached 362MW in 7 countries in less than 3 years, and expect to pass the GW in 15-18 months
✅ Our digital platform is on-line - although we are restructuring it entirely
✅ We'll probably start one development in West Africa and have identified a first asset in Western Asia
✅ While we work with everyone, we signed 2 strategic agreements with 1st results:
◾️ Total Eren:: 72MW closed in Cambodia, JDA signed for 40MW/100MWh battery in West Africa, >700MW currently in discussion
◾️ Technique Solaire: 34MW closed in India, a very large transaction announced soon 🤞
Big thanks to all our partners and everyone fighting for the energy transition!