BII Backs Okra With $7m To Bring Clean Power To 750,000 Nigerians

British International Investment (BII), has announced a $7 million debt facility to Okra Solar, a provider of mesh-grid technology for off-grid communities, to accelerate access to reliable and clean electricity, primarily in Nigeria.

Nigeria has one of the world’s largest electricity access deficits, with an estimated 90 million people lacking reliable and affordable power. Many live in small, dispersed communities where conventional mini-grids can be costly to deploy, while solar home systems may not provide sufficient power for businesses and other productive uses.

Mesh-grids are designed to help address this gap. They combine solar generation, battery storage and smart controls, allowing neighbouring homes and businesses to share electricity in a cost-efficient way. This can provide more power than typical solar home systems while reducing the infrastructure requirements associated with conventional mini-grids.

The investment addresses a key barrier to scaling distributed renewable energy: access to flexible working capital to procure equipment. By enabling Okra to purchase manufacturing inputs upfront and in greater volumes, the facility will help reduce equipment costs and shorten delivery times to Nigeria from four months to approximately two months.

In Nasarawa State, one phone-charging business owner used to spend N60,000 a week running a petrol generator. Since his community was connected to an Okra-powered mesh-grid, he pays about N6,000, representing a 90 per cent saving.

The British Deputy High Commissioner in Lagos, Mr Jonny Baxter, said reliable electricity is fundamental to economic growth, job creation and improved livelihoods.

“Yet millions of Nigerians still lack access to dependable power. Through British International Investment, the UK is supporting innovative Nigerian solutions that can help close this gap,” Baxter said.

He stated first, “not only is this about expanding access to power, but it is also about clean power. More reliable power creates opportunities for businesses and entrepreneurs, which generates jobs and drives inclusive economic growth. And clean power means less pollution.”

Director and head of Infrastructure & Climate Debt, Africa and South Asia at BII, Geoffrey Manley, said access to the right type of finance can be just as important as the technology itself.

“Our flexible facility will enable Okra to procure critical components earlier and at greater scale, reducing costs and shortening delivery times,” Manley said.

He stated “we believe this will help demonstrate the commercial viability of mesh-grids and establish the model as an increasingly important part of Africa’s distributed renewable energy market.”

The investment comes as Nigeria expands distributed renewable energy through initiatives including the Distributed Access through Renewable Energy Scale-up (DARES) programme, implemented by Nigeria’s Rural Electrification Agency with World Bank support. Mesh-grids are eligible under the programme, which provides results-based financing to support new electricity connections.

The CEO, Okra Solar, Afnan Hannan pointed out that “every month a project is delayed is another month a community goes without power.

“Until now, we would only order components once a transaction had closed, in batches of a few thousand units. With BII’s facility, we are procuring long lead time components, batteries, and solar PV equipment upfront and in volume, reducing costs and having stock ready when a developer signs. Equipment reaches Nigeria in less than one-third of the time, getting the lights on sooner.”