Okra Solar
Period
2022
Country
Nigeria
Sector
Renewable energy
Financial facility
ElectriFI
EDFI ElectriFI provides Okra with a USD 4.5 million, in revolving working capital facility to be used for financing manufacturing of actual client orders in Nigeria.
Project overview
Okra offers an innovative technology, the Mesh-Grid, that can transform and accelerate the development of off-grid energy for rural electrification and bolster the
use of productive appliances by households. Founded in 2016, Okra achieved projects in different geographies and received multiple awards for the technology. They are now focusing on the highly strategic Nigerian market, where they are currently developing multiple pilot projects with local and
international developers.
Funding objective
EDFI ElectriFI provides Okra with a revolving working capital facility to be used for financing manufacturing of actual client orders in Nigeria.
Investment rationale
EDFI ElectriFI’s investment shall enable the company to fund scale-up orders from clients in the Nigerian market, ultimately providing thousands of households with energy access and enabling productive use deployment. Rural electrification rate in Nigeria barely
reaches 39%, hence the high need for off-grid
solutions.
Key Indicators
Targeted impact
76.000 beneficiaries
Financial Instrument
Working capital loan
Amount
USD 4.5m (equiv EUR 4.15)
Technology
Minigrids
Year
December 2022
