The Facility for Energy Inclusion (“FEI”) signed agreements to provide a USD 7.5 million facility to finance Odyssey Energy Solutions (“Odyssey”), to expand equipment credit for mini-grids and commercial and industrial (“C&I”) companies in Africa

On December 10th 2025, FEI signed finance documents to provide USD 7.5 million of long-term senior debt to facilitate the expansion of Odyssey’s equipment credit offering. This financing will support the rollout of mini-grids and C&I solutions across Africa, providing equipment credit to small and mid-sized developers and engineering, procurement and construction firms throughout the region. The financing will support Odyssey’s platform clients, including mini-grid developers under Nigeria’s USD 750m Distributed Access through Renewable Energy Scale-up (“DARES”) programme.

Odyssey Procurement is the newest component of Odyssey’s end-to-end platform, designed to rapidly advance the clean energy transition in emerging markets. By bringing procurement, financing, and monitoring together in one integrated solution, Odyssey simplifies the solar project lifecycle, helping companies scale faster, run more efficiently, and deliver clean energy more quickly than ever. Through its procurement and financing platform, Odyssey’s equipment credit solution allows DRE companies to obtain high-quality, top-tier equipment on credit, helping to close the working-capital gap that frequently delays project rollouts. Over the next four years, Odyssey expects to facilitate more than USD 800 million of solar equipment procurement across sub-Saharan Africa.  

“This partnership with Odyssey is directly aligned with FEI’s mandate to expand reliable, affordable clean power for Africa’s mini-grid and C&I sectors” said Carmen de Castro, Managing Director and FEI Fund Lead at at Cygnum Capital. “We see a clear need for fit-for-purpose equipment and construction credit solutions that allow credible solar companies to scale. Odyssey’s innovative platform and market reach make it a strong partner, and this facility will help unlock more timely deployments for businesses that depend on dependable power.”

“This facility with FEI is a major milestone for Odyssey as we scale our procurement and equipment credit platform across Africa,” said Piyush Mathur, Chief Business Officer and Co-founder at Odyssey Energy Solutions. “Access to quality equipment on best terms and credit is one of the biggest constraints facing mini-grid and C&I developers today. By combining FEI’s catalytic financing with Odyssey’s integrated procurement, financing, and monitoring platform, we’re helping developers accelerate project timelines, build and manage scale efficiently, and bring reliable clean energy to more communities and businesses faster.”  

FEI is managed by Cygnum Capital and was advised by Burges Salmon (legal) on this transaction.

About Odyssey Energy Solutions

Odyssey is a global fintech on a mission to get more distributed solar built, faster. Odyssey connects solar developers, OEMs, financiers, and governments on a single platform that streamlines the entire project lifecycle – from procuring quality solar equipment with flexible payment terms to program delivery with embedded AI and real-time portfolio insights. Today, over 3,000 distributed-energy companies and vetted suppliers use Odyssey to access over USD 3.5 billion of financing to buy equipment from vetted suppliers and deliver projects across growth markets.  

www.odysseyenergysolutions.com

About Cygnum Capital  

Cygnum Capital Group is an investment bank and asset manager, operating across frontier and emerging markets. Cygnum Capital Asset Management manages seven pioneering funds: six debt funds including: (i) the African Local Currency Bond Fund (“ALCBF”), a ground-breaking investment vehicle established to support local currency capital markets, (ii) Off-Grid Energy Access Fund (“OGEF”) which supports companies in off-grid energy such as SHS and small- medium mini-grids, (iii) FEI which support companies that provide a range of renewable energy solutions such as medium-large mini- grids, C&I and IPP with a maximum capacity of 25 MW, (iv) AfricaGoGreen Fund (“AGG”) which supports companies combating climate change by reducing the use of fossil fuels through new technologies and that increase energy efficiency and promote economic development in high impact target sectors; and (v) Africa Agricultural Trade Investment Fund (“AATIF”) which invests in the African agricultural sector promoting primary agricultural production, value addition through local processing and increased international trade integration​​; (vi) Universal Green Energy Access Programme (“UGEAP”) a co-investment and on-lending vehicle focused on the renewable energy sector in seven countries in Africa; and a VC private equity fund (vii) E3 Low Carbon Economy Fund for Africa (“E3 LCEF”) which invests in climate-smart services, digital connectivity & applications, low-carbon productivity enablers. Cygnum Capital Asset Management has over USD 1.3 billion in assets under management with investments in 32 African countries.

https://www.cygnumcapital.com/  

About the Facility for Energy Inclusion  

FEI is designed to support small-scale independent power producers delivering power to the grid, mini-grids, commercial and industrial and captive power projects. FEI was set up by the African Development Bank (“AfDB”) as part of its New Deal for Africa initiative. In addition to the investment by the AfDB, FEI received equity funding from the German Federal Ministry for Economic Cooperation and Development through KfW and Norfund and loan commitments from the Austrian Development Bank, the International Finance Corporation (“IFC”) and DEG. The AfDB also invested on behalf of the Clean Technology Fund and the European Commission.

https://www.feiafrica.com/

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