Africa’s leading social impact investment and multi-competency advisor firm, SAO group recently signed an MoU with Australian technology company Okra Solar to energize community households, Primary Healthcare Centers (PHC) and Digital Literacy Centers (DLC) in South Western Nigeria.
Okra Solar specializes in using advanced digital monitoring, billing and mesh-grids to make electrification more affordable to underserved communities in Africa and Asia. Hence, this new alliance will see both parties work together to structure a Special Purpose Vehicle (SPV) that will raise six million dollars finance for the scale-out of Okra mesh-grids in Ondo and Kwara State which will bring electricity to severely impacted communities.
Speaking further on their plans, Ayodeji Sotinrin, CEO, SAO Group further stated that, “ This programme will ensure every household is given access to clean and very affordable energy solutions, our primary health facilities are no longer faced with operating under torchlight and our schools have the required supply of power to enable the introduction of Information Technology systems to its curriculum, allowing for enhanced education, increased employability and better livelihoods to all.”
This pilot project is aimed for commissioning in March 2022 and is eligible under the NEP program supported by the REA, World Bank and African Development Bank. As part of SAO Group’s Corporate Social Responsibility (CSR) agenda, the group will finance two pilot projects that will provide 24-hour energy to 198 households, two schools and two PHCs. This will also validate the Key Performance Indicators (KPIs) within the SPV business model, and furthermore, act as a showcase to attract funding from national and international donor organizations.