Odyssey raises $74 million to scale DERs in emerging markets

Odyssey Energy Solutions, a company that helps solar installers in Africa, Asia, and Latin America line up financing and equipment, has raised $74 million to grow its platform. The money includes $27 million in equity from investors like Broadscale Group, FMO, and Al Mada Ventures, plus $47 million in debt from British International Investment and Belgium's development finance institution BIO. Odyssey connects more than 6,000 solar installers with lenders and equipment suppliers, helping them get financing after a project is built and buy equipment on extended payment terms instead of paying upfront. So far the company has helped bring 1.5 gigawatts of small-scale solar and storage projects online.

This is mainly a story about how energy financing works in developing countries, not something that changes rebates or programs for U.S. homeowners directly. But it points to a bigger trend worth noting: countries like Nigeria and India, which have long relied on diesel generators, are turning to solar and battery storage faster because diesel prices have spiked due to the Iran conflict and the closure of the Strait of Hormuz. In those countries, distributed solar isn't a backup option — it's becoming core infrastructure.

The company's CEO also pointed out that the U.S. is starting to face a similar squeeze, with energy demand growing faster than the power grid can keep up. If that trend continues, it could shape how much support and investment flows toward home battery and solar systems here as well.