Okra Solar Pty Ltd
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Okra Solar is a Company providing a solution to electrify off-grid households via a mesh-grid solution.
What is our funding objective?
FMO is providing an equity investment to Okra Solar which is seeking to scale up its Mesh grid technology across emerging markets (mainly Nigeria and Haiti) over the coming years.
Why do we fund this investment?
This investment is enabling electrification of underserved communities (Reducing Inequalities) with solar and battery power (Green).
What is the Environmental and Social categorization rationale?
This transaction is a B-risk transaction. Okra’s operations have limited environmental and social impacts which are site specific. The E&S impacts associated with the design, manufacturing, and installation of solar home products and solar mesh grids are envisaged to be avoidable or fairly easy to mitigate by adherence to recognized E&S performance standards.
More investments
| Date | Total FMO financing |
|---|---|
| 11/26/2023 | USD 0.03 MLN |
- Region
- Africa
- Country
- Nigeria
- Sector
- Energy
- Publication date
- 5/17/2023
- Effective date
- 7/5/2023
- Total FMO financing
- USD 1.50 MLN
- Funding
- Ventures Program Asia
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B