We're excited to share that Broadscale has invested in Odyssey Energy Solutions, which just closed $74M to accelerate distributed solar financing across emerging markets.

Falling solar and battery costs, rising oil prices, and shifting policy are making distributed solar increasingly competitive with fossil fuels in markets like India and Nigeria, where Odyssey operates. As our Managing Partner Andrew Shapiro put it:

“The demand is there, the economics work, and the remaining constraint to deployment at massive scale is access to capital and procurement infrastructure for installers.”

Through our investment in M-KOPA, the African fintech we invested in starting in 2021, we've seen how powerful the right financing tool can be. Pay-as-you-go financing has given 10 million M-KOPA customers access to solar, smartphones, cash loans, health insurance, and electric motorbikes — usually for the first time.  Odyssey is solving the same structural problem from a different angle, giving small and mid-sized solar installers access to the equipment financing they need to deploy clean energy at scale.

Covered in the Economic Times and Heatmap.