CrossBoundary Access and Mobile Power announce $10 million partnership to scale battery swapping services across Nigeria

CrossBoundary Access and Mobile Power have announced a $10 million partnership to deploy MOPO Hubs in Nigeria, providing energy access to 300,000 people using an innovative battery service. CrossBoundary Access has committed an initial $2.25 million for the transaction, with the option to extend up to $10 million.
CrossBoundary Access and Mobile Power announce $10 million partnership to scale battery swapping services across Nigeria
Courtesy of Mobile Power (MOPO).

Solar energy has revolutionised the generation of electricity. MOPO Batteries – and the supporting hardware and software – are revolutionising the distribution of electricity. For Mobile Power, this new partnership allows the company to accelerate deployment of its technology in Nigeria. For CrossBoundary Access, MOPO Hubs complement its mini-grid portfolio by allowing faster, lower cost deployment, and extending the service range of CrossBoundary Access’ infrastructure beyond the cost-effective limits of traditional distribution infrastructure that use poles and wires.

CrossBoundary Access will finance the development and construction activities and will own the projects, while Mobile Power will ensure that residents receive clean, reliable electricity for years to come.

MOPO Hubs, powered by solar energy, allow customers to access energy without upfront costs with no consumer debt through secure pay-per-use MOPO batteries distributed by local Mobile Power agents.

An average MOPO Hub creates four full-time jobs for local women and men. MOPO Hubs, designed for rapid, light-touch deployment, are located conveniently within communities without the need for cabling.

This low-cost connection strategy, along with the ability to collect usage data, allows CrossBoundary Access to optimise the locations of its future mini-grid sites and connections. Together, CrossBoundary Access and Mobile Power are committed to increasing socio-economic opportunities and expand energy access to new customers.

CrossBoundary Access were advised in the transaction by Foley Hoag LLP. Mobile Power were advised by Knights PLC.

“This transaction shows the impact of combining innovative financing with innovative technology” said Lynne Wesonga, Associate Director and transaction lead for CrossBoundary Access. “CrossBoundary Access will be able to deploy capital more efficiently while delivering electricity to more people at a faster pace. Our agreement with Mobile Power is one more milestone towards closing the gap on the 600 million people in Africa who lack access to electricity.”

For additional information:

CrossBoundary Access

Mobile Power

Tags: Electricity , Grid , Solar , Africa , Jobs
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