- CrossBoundary Access and Mobile Power are announcing a $10 million partnership to deploy MOPO Hubs in Nigeria, providing energy access to 300,000 people using an innovative battery service
- This is the first transaction in Africa to use an infrastructure financing approach to invest in battery-swapping technology.
- CrossBoundary Access has committed an initial $2.25 million for the transaction, with the option to extend up to $10 million.
Solar energy has revolutionized the generation of electricity. MOPO Batteries – and the supporting hardware and software – are revolutionizing 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.
Author: Bryan Groenendaal
