MOPO signs $75 million REA deal to expand battery rental across Nigeria

MOPO, an Africa-focused battery rental company backed by Octopus Energy Group Ltd., has signed a $75 million agreement with the Nigerian government to expand its battery rental operations across the country by 2030, in a move aimed at improving access to affordable electricity.

The agreement, signed with the Rural Electrification Agency (REA), will begin with a pilot programme later this year before being expanded nationwide over the next five years, MOPO said in a statement on Monday, according to Bloomberg.

The investment is expected to support Nigeria’s efforts to expand electricity access through clean energy solutions while complementing broader initiatives to electrify underserved communities.

What the organisation is saying

MOPO said the expansion will strengthen access to reliable electricity by allowing households and businesses to rent rechargeable batteries instead of investing in expensive solar home systems or mini-grids.

• “We solve a lot of the problems that mini-grids and solar home systems struggle with,” said Luke Burras, MOPO’s Chief Operating Officer.
• “We rent batteries to customers for hours. We’re not asking them to buy an asset 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.”

The company said the partnership with the Rural Electrification Agency will begin with a pilot programme in 2026 before expanding nationwide by 2030.

MOPO noted that the investment aligns with broader efforts to accelerate access to clean and affordable electricity across Nigeria and the African continent.

Get up to speed

Nairametrics earlier reported that REA plans to spend N100 billion in 2026 to deploy hybrid mini-grids for government agencies within and outside Abuja.

The funds form part of the National Public Sector Solarisation programme, which is a component of the agency’s broader N170 billion budget proposal for 2026.

• Earlier in February 2026, REA signed a Memorandum of Understanding with the Economic Community of West African States (ECOWAS) to deploy solar power systems to 15 public institutions across Nigeria.
• The project will be implemented under the Regional Off-Grid Electricity Access Project (ROGEAP), a World Bank-supported initiative aimed at expanding off-grid electricity access across West Africa and the Sahel.

ECOWAS will provide a $700,000 grant to fund the installation of solar photovoltaic systems in selected rural health centres and schools in the Federal Capital Territory, Niger, and Nasarawa States.

What you should know

Nigeria remains one of the countries with the world’s largest electricity access deficits despite being Africa’s biggest economy.

• According to the World Bank and the African Development Bank, nearly 560 million people across sub-Saharan Africa still lack access to electricity.
• Limited access to electricity continues to constrain productivity, education, healthcare delivery and economic development across many African countries.

The Federal Government has continued to promote off-grid and renewable energy solutions through the Rural Electrification Agency to accelerate electricity access in underserved communities.