MOPO Partners with Nigerian Company to Invest $75 Million in Deploying Battery Swapping Infrastructure

en.Wedoany.com Reported - MOPO, a battery subscription company under UK renewable energy investor Octopus Energy, has formed a $75 million partnership with Nigerian energy company Enspect Energy to deploy battery swapping infrastructure across Nigeria. This five-year investment aims to expand access to reliable and affordable energy, accelerate the adoption of electric motorcycles, and reduce the country's reliance on gasoline and diesel generators.

The investment will be used to launch an extensive network of battery swapping stations and battery rental services, serving electric mobility operators, small businesses, and households. The partners expect the project to lower the cost of clean energy adoption while creating jobs across the battery distribution, charging, and maintenance value chain.

Nigeria faces unreliable electricity supply and soaring energy costs following the removal of gasoline subsidies. Millions of households and businesses still rely on gasoline and diesel generators for power, creating a market opportunity for battery-powered alternatives.

MOPO operates a Battery-as-a-Service model, where users subscribe to use rechargeable lithium-ion batteries instead of purchasing them directly. Customers can exchange depleted batteries for fully charged ones at designated swapping stations, reducing downtime and eliminating upfront costs associated with battery ownership.

The partnership will leverage Enspect Energy's local expertise and distribution network to accelerate deployment in major Nigerian cities, followed by expansion into underserved communities. The two companies believe this model can help improve energy access while supporting the growth of electric mobility.

With its large commercial motorcycle sector, growing demand for affordable energy solutions, and persistent power shortages, Nigeria is one of Africa's most promising markets for battery-powered transportation. These factors have attracted global investors seeking opportunities in Africa's clean energy transition.

For Octopus Energy, this investment deepens its presence in emerging markets. The company has continued to support climate technology enterprises in recent years, committed to expanding access to affordable, low-carbon energy.