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Grace Ashiru
Renewable energy technology company Okra Solar has secured a $7 million debt financing facility from British International Investment (BII) to expand electricity connections in underserved rural communities across Nigeria.
The financing will support the procurement of solar equipment, batteries, and other essential components needed to accelerate the deployment of the company’s mesh-grid technology.
According to BII, the investment could enable approximately 150,000 new electricity connections, potentially providing power access to as many as 750,000 people.
Founded in 2016 by Afnan Hannan and Damian Veling, Okra Solar develops technology that enables energy companies to distribute reliable electricity across communities without access to conventional power grids.
Its mesh-grid system combines solar panels, battery storage, smart electricity meters, and wireless communication technology to allow neighbouring households and businesses to share electricity.
The approach is designed to address limitations associated with traditional solar home systems and larger centralised mini-grids, particularly in geographically dispersed rural settlements.
Okra Solar operates through a network of connected devices, including its Okra Sprout and Okra Leaf products, which support different electricity consumption requirements.
The company’s technology also incorporates OkraNet, a wireless communications system, and Okra Harvest, a software platform for monitoring energy networks, managing billing, and identifying technical issues.
According to the company, its mesh-grid technology can reduce electricity distribution costs by up to 60% and accelerate deployment by approximately 70% compared with conventional grid extension methods.
The new financing will allow Okra Solar to purchase equipment earlier and in larger quantities, reducing procurement delays and improving delivery timelines.
Chief Executive Officer Afnan Hannan explained that advance procurement would help shorten the time required to deliver equipment to Nigeria and accelerate project implementation.
Okra Solar currently reports more than 13,000 connected households and over 2.3 megawatts of installed capacity.
The BII facility could increase its connection capacity more than tenfold, supporting Nigeria’s efforts to expand access to affordable and dependable electricity.
The investment also complements broader renewable energy initiatives, including Nigeria’s Distributed Access through Renewable Energy Scale-up programme.
By expanding decentralised electricity infrastructure, Okra Solar aims to improve household energy access while supporting rural businesses, employment opportunities, and sustainable economic development.
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