Okra Solar has secured a $7 million loan from British International Investment (BII), the UK’s development finance arm, to buy hardware for roughly 150,000 new off-grid solar links in rural Nigeria. Nairametrics reported that the funding could extend power access to approximately 750,000 residents, significantly expanding the company’s current footprint.
The capital allows the firm to purchase solar panels, batteries, and other parts in bulk before individual project contracts are finalized. According to Nairametrics, this strategy reduces shipment delays to Nigeria from about four months to two. Afnan Hannan, Okra’s chief executive, explained that the company now stocks long-lead components in advance, ensuring inventory is available immediately when developers sign agreements. This approach lowers costs and speeds up the process of bringing electricity to communities.
Okra currently serves over 13,000 households with more than 2.3 megawatts of installed capacity. The new funding is projected to multiply its connection count by more than ten. Geoffrey Manley, BII’s director for infrastructure and climate debt in Africa and South Asia, stated that securing suitable financing is as critical as technology for enabling energy firms to grow. Nairametrics noted that BII classifies the investment as fully climate finance and aligned with its 2X Challenge for women’s economic empowerment.
The company’s mesh-grid system integrates solar generation, battery storage, and smart controls to allow local homes and businesses to share power. This model targets areas where standard mini-grids are costly and individual home systems lack sufficient capacity for commercial use. Nairametrics highlighted a phone-charging operator in Nasarawa State who cut weekly energy costs from N60,000 to about N6,000 after joining an Okra grid, a 90% reduction in spending.
Okra has previously pursued projects in Nigeria, including a 2021 agreement with SAO Group to build mesh-grids in Ondo and Kwara states. The firm now partners with developers in Nigeria, Mozambique, and Madagascar. Nairametrics added that the broader Nigerian renewable energy sector has seen increased activity, with the government starting construction of interconnected mini-grids in October 2026 and the Rural Electrification Agency signing a N100 billion credit line in February 2026 to support developers under the DARES programme.