Odyssey Energy Bags $7.5M Boost from BII to Power Up Nigeria's Solar Mini-Grid Revolution

Written By: Flipbz.org

In a game-changing push for clean energy across Africa's most populous nation, Odyssey Energy Solutions has locked in a $7.5 million funding facility from British International Investment (BII), paving the way for faster rollout of solar mini-grids in underserved areas.

The infusion, part of the ambitious Distributed Access through Renewable Energy Scale-up (DARES) program backed by Nigeria's Rural Electrification Agency (REA) and the World Bank, will equip renewable developers with flexible financing for essentials like solar panels, batteries, and storage systems. Odyssey's digital platform, which handles everything from project proposals to real-time monitoring and results-based payouts, integrates cutting-edge geospatial tools from VIDA to sharpen site selection and efficiency.

With around 90 million Nigerians still off the national grid—mostly in rural and peri-urban spots—this initiative targets delivering reliable, affordable power to communities long left in the dark. The DARES effort aims to electrify 17.5 million people through up to 1,500 mini-grids and 1.5 million standalone solar home systems, marking a bold step toward slashing energy poverty.

"This partnership highlights how innovative financing can supercharge distributed energy projects," said Piyush Mathur, Odyssey's Co-Founder and Managing Director. "BII's forward-thinking support lets us provide tailored options that fit developers' needs, speeding up electrification nationwide."

Benson Adenuga, BII's West Africa Regional Director, echoed the sentiment: "Mini-grids from clean sources are crucial for bridging Nigeria's massive access gap. We're thrilled to team up with Odyssey on this vital work." British Deputy High Commissioner Jonny Baxter added that such deals signal expanding private-sector roles in Africa's renewable surge.

As public-private synergies like this gain steam, Odyssey's model could inspire similar setups elsewhere, turning energy challenges into opportunities for sustainable growth and economic lift-off in emerging markets.