Okra Solar Pty LtdStatus: Approved investment
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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.
- Publication date
- Effective date
- Total FMO financing
- USD 1.50 MLN
- Ventures Program Africa EurNb
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)