• Funds expand equipment credit for off-grid solar mini-grids in Africa
  
• Platform targets $800 million solar equipment orders over four years
  

Facility for Energy Inclusion (FEI) signed financing agreements on Wednesday to provide $7.5 million in long-term senior debt to Odyssey Energy Solutions, a platform connecting investors, developers and equipment suppliers to accelerate off-grid solar deployment.

The financing will expand Odyssey’s equipment-credit offering for commercial and industrial solar mini-grid solutions in sub-Saharan Africa. It will support equipment purchases by small and medium-sized developers and EPC companies, as well as clients using the Odyssey platform, including developers involved in Nigeria’s DARES programme.

In addition to this financing, the platform plans to facilitate more than $800 million in solar equipment orders in sub-Saharan Africa over the next four years.

“Access to quality equipment, with the best terms and credit, is today one of the main constraints for mini-grid developers and solar solutions for businesses. By combining FEI’s catalytic financing with Odyssey’s integrated platform dedicated to procurement, financing and monitoring, we are helping developers accelerate completion timelines, build and manage scale effectively, and bring reliable clean energy to more communities and businesses faster,” said Piyush Mathur, co-founder of Odyssey Energy Solutions.

In September, Odyssey secured a $7.5 million facility from British International Investment to support mini-grids under the DARES programme in Nigeria. The FEI financing follows this momentum, with the shared aim of improving access to quality solar equipment for developers facing cash flow constraints.

According to the International Energy Agency (IEA), decentralised solutions have become a key driver of expanding electricity access in sub-Saharan Africa. The agency estimates that 55% of new connections by 2035 could come from these technologies.

Abdoullah Diop