Norfund invests $6.7m in MOPO battery rentals

Key Figures & Findings: Norwegian development fund Norfund has invested GBP 5 million (USD 6.75m) in Mobile Power Ltd (MOPO), a UK-based company running solar-powered battery rental services across Sub-Saharan Africa. MOPO’s model uses local agents to operate charging hubs that supply batteries for households and businesses, covering everyday needs like lighting, phone charging, small appliances, and higher-load equipment for small businesses and mobility. The investment was made through Norfund’s Frontier Facility, joining existing shareholders including Octopus Energy and British International Investment (BII).

Insights: MOPO operates in Nigeria, DRC, Sierra Leone, Liberia, Chad, and Uganda, providing both low-load and higher-capacity battery options.

Future Implications: If scaled as planned, the partnership could expand distributed clean energy access across multiple African markets by 2027, reducing diesel dependence and creating affordable alternatives for communities far from national grids.

Source: Renewables Now

Quick Take: Norfund’s $6.7m stake in MOPO highlights growing support for battery rental services, a model that could expand clean, off-grid energy access across Africa by 2027.