The Nigerian company Okra Solar has been given permission by the European Union (EU) to utilise a $3.4 million working capital facility under the ElectriFI Country Window. This is to target 76,000 people who will benefit from energy access by the end of 2025. Mini-grid developers will have access to electricity thanks to mesh-grid technology provided by Okra Solar.
The investment made by EDFI ElectriFI consists of a revolving working capital facility that is intended to close the financing gap in the supply chain, assist Okra in taking advantage of the high demand for their technology, expand their market share in Nigeria, promote Nigeria Electricity and ultimately hasten sustainable electrification.
Nigeria’s ElectriFI Country Window was created in collaboration with host governments and EU Delegations. “ElectriFI Nigeria Country Window funding from the European Union for Okra helps Nigeria electricity improving the nation’s efforts in accelerating energy access to people in underserved communities.
