• BII provides $7.5M to Odyssey for Nigerian solar mini-grids
• Funding supports World Bank-backed DARES electrification initiative
• 90M Nigerians lack power; mini-grids seen as key solution

British International Investment (BII) announced on Friday, September 12, it is providing a $7.5 million financing facility to Odyssey Energy Solutions to support the deployment of solar mini-grids in Nigeria. The initiative is part of the World Bank-backed DARES program, which aims to improve electricity access for 17.5 million Nigerians.

Odyssey’s platform will enable mini-grid developers to procure quality solar and storage equipment with flexible financing terms. This mechanism is designed to address one of the main obstacles to market development: the difficulty in securing appropriate financing.

"Mini-Grids powered by clean and affordable energy sources have a vital role to play in rapidly reducing that number. I am delighted that BII is partnering with Odyssey to accelerate the development of such projects," said Benson Adenuga, BII's Regional Director for West Africa. 

The energy deficit remains a major barrier to Nigeria's development. Approximately 90 million people lack access to electricity, while those connected to the grid experience frequent outages. Others rely on expensive diesel generators. To address this, authorities are focusing on mini-grids and decentralized solutions, with support from financial partners such as the World Bank, AFD, and BII.

By directly targeting the DARES program, this funding could accelerate electrification and contribute to the country's clean energy ambitions.

Abdoullah Diop