MOPO, a pay-per-use battery technology company based in Sheffield, UK, but focused on Africa, has reached an understanding with Nigeria for a $75 million (approx. ₦120 billion) expansion, Bloomberg reported on Monday, citing a statement by the firm.
The deal allows MOPO to team up with the Rural Electrification Agency—the government department responsible for deepening access among the unserved and underserved—on a pilot programme that will run through this year. The project is scheduled for delivery in 2030.
MOPO, regarded as the largest provider of battery rental services on the continent, uses off-grid solar power stations with recharging facilities to distribute energy to users through local agents. Customers rent these batteries for use at home, in business, and for other purposes. Key partners comprise the UK’s biggest energy supplier, Octopus Energy; the Norwegian Government Fund, Norfund; and the International Finance Corporation.
“We solve a lot of the problems that mini-grids and solar home systems struggle with,” Luke Burras, MOPO’s chief operating officer, was quoted as saying. “We rent batteries to customers for hours. We’re not asking them to buy an asset, as in the case of solar home systems, and we’re not asking investors to place a huge bet on their future usage, as with mini-grids.”
