MOPO, a pay-per-use battery technology company based in Sheffield, UK, with a focus on Africa, has reached an understanding with Nigeria for a $75 million (approximately ₦120 billion) expansion. This development was reported by Bloomberg on Monday, citing a statement from the firm.
The agreement facilitates a partnership between MOPO and Nigeria's Rural Electrification Agency, the government department tasked with improving electricity access for unserved and underserved populations. This collaboration will involve a pilot program running through this year, with the overall project slated for delivery in 2030.
Regarded as the largest provider of battery rental services on the continent, MOPO operates off-grid solar power stations equipped with recharging facilities. These stations distribute energy to users via local agents, allowing customers to rent batteries for various uses at home and in businesses.
MOPO's key partners include Octopus Energy, the UK’s largest energy supplier; Norfund, the Norwegian Government Fund; and the International Finance Corporation. Luke Burras, MOPO’s chief operating officer, stated, “We solve a lot of the problems that mini-grids and solar home systems struggle with.”
Burras further explained, “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.”
Nigeria’s Rising Climate Tech Profile
This deal represents positive news for Nigeria, a country facing the world’s largest absolute electricity access deficit. The nation's reliance on noisy gasoline generators as an alternative to frequent grid power failures has complicated its transition to clean energy and hindered efforts to address the climate crisis.
MOPO’s latest investment in Nigeria underscores the increasing attention Africa is receiving from the global community, despite contributing only 2% to 4% of global greenhouse gas emissions. The continent currently receives just a tenth of the annual climate funding it requires.
Last week, the emerging market-focused intelligence and data platform Briter, along with its research partners, released the latest edition of “The State of ClimateTech in Africa.” The report revealed that climate tech has surpassed fintech as Africa’s leading venture-funding sector, suggesting it has reached an inflection point on the continent.
The report noted that between 2016 and 2025, the climate tech sector accounted for approximately 22% of total venture funding in Africa. Its share of annual investment rose significantly from 13% in 2016 to nearly 40% in 2025.
During this period, ClimateTech companies collectively raised approximately $6.35 billion across 779 companies. Annual funding saw a substantial increase from $206 million across 28 companies in 2016 to more than $1.5 billion across 223 companies in 2025.
Nigeria is second only to Kenya in terms of venture capital attracted by climate tech, accounting for 12.9% of Africa’s cumulative capital inflows over the six years to 2025. MOPO currently rents out more than 7.5 million batteries annually across six African countries, including Nigeria, the Democratic Republic of Congo, Chad, Sierra Leone, Uganda, and Liberia, according to information on its website.
