Renewables
British International Investment issues $7m facility to Okra Solar
British International Investment has announced a $7 million debt facility to mesh-grid provider Okra to expand clean electricity access in Nigeria.
Key points
- BII provides a $7 million debt facility to mesh-grid developer Okra.
- The funding aims to support 150,000 new connections and reach 750,000 people in rural Nigeria.
- Working capital injection will shorten equipment delivery times from four months to two.
What happened
According to Punch, British International Investment (BII) announced a $7 million debt facility dedicated to Okra, a mesh-grid technology provider operating in off-grid communities. The financing targets the expansion of reliable electricity infrastructure, focusing primarily on Nigeria.
The capital will allow Okra to procure equipment for roughly 150,000 new connections. This expansion has the potential to deliver power to 750,000 individuals across rural parts of the country for the first time, scaling up the company's current footprint of over 13,000 households and 2.3MW of installed capacity by more than tenfold.
Operational impacts
The investment addresses constraints related to working capital and equipment procurement in the distributed renewable energy sector. By allowing Okra to buy components upfront and in larger volumes, the arrangement reduces equipment costs and cuts delivery lead times to Nigeria from four months down to approximately two months.
British Deputy High Commissioner in Lagos, Mr Jonny Baxter, stated in Punch that reliable and clean electricity is fundamental to economic growth, job creation, and sustainable development. Okra CEO Afnan Hannan noted that the advance procurement of solar PV equipment and batteries ensures stock is readily available when developers sign agreements, accelerating project deployment under initiatives such as the World Bank-supported Distributed Access through Renewable Energy Scale-up programme.
Why it matters
Addressing energy deficits remains a priority for Nigerian policymakers and investors, given that the World Bank reported electricity access for only 62.5 percent of the population in 2024. With electricity use per person standing at 140.6 kWh—far below the global average of 3,708.5 kWh—flexible debt facilities for distributed renewables are critical to bridging the gap. Scaling up off-grid mesh-grids supports the diversification of energy delivery in a nation where fuel exports accounted for 85.9 percent of merchandise exports in 2025, offering a commercial model for expanding rural power access.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Renewables are the fastest-growing part of the world’s energy system. The COP28 goal is to triple capacity by 2030, and solar mini-grids are the fastest route to power for millions of people without electricity.
22.0% of electricity in Nigeria was renewable in 2021Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
