Odyssey launches construction credit offering for solar companies in South Africa, Kenya and Nigeria

Odyssey Energy Solutions, an end-to-end platform for financing, procuring solar equipment, and operating distributed solar assets, is excited to announce a new credit facility for solar companies to ease working capital constraints and empower them to take on more projects.

What is construction credit?

Construction credit provides solar companies with working capital for solar equipment that aligns with their project payment milestones. It gives EPCs and developers the working capital they need to build and deliver projects, with the flexibility to make repayments once the project is commissioned.

Key features of construction credit:

• Amount: Up to $5M
• Credit period: Up to 12 months
• Deposit: 15-50% (non-refundable)
• Cost of credit: 1.5-2% processing fee + 1.5-2% per month*
• Security: Escrow of milestone payments from client, additional collateral if determined
• Repayment: Whatever works best for your business, monthly or at increments that match your project payment schedule
• Approval time: 7-10 days

*Indicative pricing

How construction credit works in 6 easy steps:

1. Fill out a simple form for pre-qualification
2. Submit full materials: Once you are pre-qualified, you will be invited to the Odyssey platform to submit additional materials about your company and project.
3. Project diligence: Odyssey diligences the materials provided.
4. Quotation and deposit: Odyssey presents a quotation. Upon acceptance, pay the required deposit.
5. Delivery and construction: Equipment is delivered for construction. The site is built and commissioned, and milestone payments are collected.
6. Invoice and settlement: Odyssey issues an invoice, which is settled out of the milestone payments within 12 months of initial down payment.

Why choose Odyssey credit solutions?

For India, East, South, and West African markets:

• Simple and fast access to finance: Avoid lengthy paperwork and approval cycles typical of traditional bank loans.
• Off balance sheet: Access capital on-demand.
• Flexible payment terms: Align your settlements with project payment milestones and maintain positive cash flows.
• Attractive rates: We offer the most competitive rates in the market for solar equipment credit
• Increase your commercial appeal : No need to charge high deposits to your customers, we carry the cashflow burden associated with procurement.

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About Odyssey Energy Solutions

Odyssey Energy Solutions is accelerating the transition to clean energy in emerging markets through its technology platform that unites stakeholders in the distributed energy sector. We facilitated capital in excess of $1.6 billion into the distributed energy sector, with a number of platform users reaching more than 2,600 companies.  

Get started TODAY with Odyssey construction credit!
For more details, visit Odyssey Energy Solutions.

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