Okra Solar Secures $7 Million Debt Facility from British International Investment to Expand Mesh-Grid Connections in Rural Nigeria
Okra Solar, a Nigerian provider of mesh-grid technology for off-grid communities, has secured a $7 million debt facility from British International Investment (BII), the UK’s development finance institution. This funding will enable Okra Solar to procure equipment for approximately 150,000 new connections, with the potential to provide electricity to 750,000 people in rural Nigeria for the first time. The investment aims to accelerate access to reliable and clean electricity in Nigeria, a country where an estimated 90 million people lack dependable power. Okra Solar's mesh-grid technology combines solar generation, battery storage, and smart controls, allowing neighboring homes and businesses to share electricity cost-efficiently. The company's CEO, Afnan Hannan, stated that the facility will significantly reduce equipment delivery times and costs, allowing for faster deployment of electricity.