Lead party: British International Investment (lender)
Coverage: The Meridian legal market record (editorial).
British International Investment (BII), the UK’s development finance institution, announced on 30 October 2026 a US$7m facility to Okra Solar to fund the advance purchase of equipment for decentralised electricity projects in Nigeria. Holding stock ahead of contract signature is intended to cut equipment delivery times to Nigeria to under a third of previous lead times.
Okra supplies solar mesh-grid technology combining generation, battery storage and smart devices, allowing neighbouring homes and businesses to share power across a network. The facility is expected to fund around 150,000 new connections, potentially reaching 750,000 people.
Advisers: not disclosed.
Status: announced.
Sources: BII; Africa Sustainability Matters, 30 October 2026.
Target: Okra Solar Pty Ltd (private company) · Sector: Energy & Utilities, Solar Mini-grids · Countries of operation: Nigeria
Transaction type: Debt Financing · Asset class: Private Credit · Strategy: Direct Lending · Instrument: Debt · Deal amount: US$7m
Lead investor/buyer: British International Investment (BII) · Investors/buyers: British International Investment (BII)
Source: announced 28 October 2026. Original announcement: bii.co.uk.
