Okra Solar Secures $7 Million Debt Facility for Expansion in Rural Nigeria

Nigerian solar startup Okra Solar has secured a $7 million debt facility from the British International Investment (BII), to expand its mesh-grid connections across rural areas of the country. This development comes at a time when Nigeria is grappling with widespread power outages, with only 45% of the population having access to electricity. According to Tech In Africa, the funds will be used to install solar-powered mini-grids in remote areas, providing clean, reliable energy to communities currently relying on diesel generators. Okra Solar’s model, which involves connecting solar panels to local loads through a mesh network, aims to provide affordable and scalable energy solutions for Nigeria’s rural populations. The investment is expected to benefit over 250,000 people living off-grid. This move aligns with the Nigerian government’s National Electrification Policy, which seeks to increase access to electricity from 45% to 75% by 2025. However, it remains unclear when the facility began operating, as the NNPC has not provided an update on this matter. This story matters to Nigerian readers as it represents a significant step towards addressing the country’s energy challenges and improving the lives of millions living without reliable electricity.