- This new partnership allows Mobile Power to accelerate the deployment of its technology in Nigeria.
- CrossBoundary Access had committed an initial $2.25 million for the transaction, with the option to extend up to $10 million.
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 had committed an initial $2.25 million for the transaction, with the option to extend up to $10 million. Besides, this is the first transaction in Africa to use an infrastructure financing approach to invest in battery-swapping technology.
Consequently, the partnership will provide 300,000 people with access to energy without upfront costs using solar-powered, pay-per-use MOPO batteries. Africa Business Communities reports that solar energy has revolutionised the generation of electricity. MOPO Batteries and the supporting hardware and software are revolutionising electricity distribution. This new partnership allows Mobile Power to accelerate the deployment of its technology in Nigeria.
Meanwhile, for CrossBoundary Access, MOPO Hubs complement its mini-grid portfolio by allowing faster, lower-cost deployment and extending the service range of its infrastructure beyond the cost-effective limits of traditional distribution infrastructure that uses poles and wires. CrossBoundary Access will finance the development and construction activities and own the projects. On the other hand, Mobile Power will ensure that residents receive clean, reliable electricity in the coming years.
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. In addition, 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 cabling.
Also, this low-cost connection strategy and the ability to collect usage data allow CrossBoundary Access to optimise the locations of its future mini-grid sites and connections. CrossBoundary Access and Mobile Power are committed to increasing socio-economic opportunities and expanding energy access to new customers.