MOPO, an Africa-focused battery rental company backed by Octopus Energy Group Ltd., said it's signed an agreement with Nigeria to facilitate a $75 million expansion of its activities in Africa's most populous nation.

The partnership aims to scale MOPO's battery-as-a-service model across Nigeria, addressing energy access challenges in a country where grid reliability remains limited. The investment will fund deployment of swappable battery stations for households and small businesses.

Octopus Energy's backing provides MOPO with strategic capital and technical expertise in renewable energy integration. The UK-based energy group has been expanding its portfolio in emerging markets, viewing distributed storage as critical to decarbonization.

Nigeria's government sees the collaboration as advancing its energy transition goals while creating local jobs in battery maintenance and distribution. The $75 million commitment represents one of the largest single investments in Africa's battery rental sector to date.