EDFI Management Company Extends Technical Assistance to Okra Solar for Financial Strategy Enhancement
EDFI Management Company (EDFI MC) announced that it is supporting Okra Solar, a pioneering force in mesh-grid technology for last-mile electrification, with technical assistance. This initiative will co-finance the costs of a finance consultant to further strengthen the company’s financial strategy and operational capabilities.
Building on the success of previous collaboration, including a USD 4.5 million working capital facility provided to Okra Solar in 2023, this technical assistance project aims to bolster Okra’s financial planning and strategic growth initiatives. EDFI MC technical assistance will amount to 45 thousand USD and is entirely funded by the European Union.
“We are excited to extend our support to Okra Solar through this technical assistance project,” said Natalia Svarinska, Technical Assistance Specialist at EDFI MC. “By reinforcing Okra’s financial strategy and operational efficiency, we aim to accelerate the deployment of their transformative mesh-grid technology, bringing sustainable electrification to more last-mile communities.”
Afnan Hannan, Co-founder and CEO of Okra Solar, added, ” The continued support from EDFI Management Company is invaluable as we scale our operations and impact. The work we are able to accomplish with their support enables us to strengthen our financial foundation and expand our reach in bringing power to the people..”
This technical assistance project underscores EDFI Management Company’s commitment to fostering innovative solutions for sustainable energy access in emerging markets. By supporting Okra Solar’s financial and strategic development, EDFI MC aims to catalyze the growth of mesh-grid technology and contribute to the electrification of underserved communities worldwide.
About EDFI Management Company: EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager that delivers innovative development finance solutions. The company enables European DFIs, development banks, and private sector investors to increase the scale and impact of their work, focusing on business models, technologies, and geographies where other investors have not been able to operate at the desired scale.
About Okra Solar
Okra Solar is on a mission to build affordable, renewable energy technology that creates opportunities for the underserved. Through a B2B model, they supply mesh-grid technology to last-mile energy access companies, who then energize last-mile households. Mesh-grids enable solar power to be generated at the source of individual homes, where excess power is then redistributed by Okra’s smart algorithms from one connection to the next to optimize utilization. Their software platform provides remote monitoring and portfolio insights so customers can easily scale their operations.
