On October 9, 2026, Jinguan Electric announced that its wholly-owned subsidiary Jinguan Shenzhen Light Storage and Charging Electrical Co., Ltd. had signed an EPC general contracting framework agreement with SPIRO MOBILITY HOLDCO FZCO registered in Dubai, United Arab Emirates, to construct 50 grid connected or off grid light storage and charging integrated power station projects in the African region, with a total contract amount not exceeding 296 million US dollars including tax, approximately 1.981 billion yuan. SPIRO will make a prepayment of 10 million US dollars within one month after the contract is signed. The subject of this framework agreement is the EPC general contracting of 50 grid connected or off grid integrated power storage and charging projects in the African region, covering both grid connected and off grid modes. The contract shall come into effect from the date of signature by the legal representatives or authorized representatives of both parties, and the remaining payments shall be made in installments according to the signing and performance progress of the special EPC execution agreement.

SPIRO operates Africa's largest battery swapping network

SPIRO is publicly reported as the largest electric two wheeler battery swapping operator in Africa, registered in Dubai, United Arab Emirates. According to Xinhua Finance, SPIRO has deployed over 100000 electric motorcycles and built more than 2500 battery swapping stations in seven African countries, including Kenya, Uganda, Rwanda, Nigeria, Benin, Togo, and Cameroon. The company has completed over 30 million battery swapping operations, with a daily capacity of nearly 100000 and maintaining a monthly growth rate of approximately 15%. SPIRO's business model has been validated in large-scale operations in Africa. The stability of the African power grid is insufficient, charging facilities are limited, and commercial riders find it difficult to bear the downtime costs caused by long-term charging. The battery swapping model is more in line with local market demand. In June 2026, Shanghai Zengtu Capital invested $55 million in SPIRO, with plans to leverage China's supply chain and local operational capabilities in Africa to further localize vehicle assembly, battery production, battery swapping infrastructure, and component manufacturing. SPIRO plans to purchase approximately 350000 batteries from China for the whole year of 2026, with a total amount of about $100 million, while operating 4 assembly plants and 1 battery recycling facility in Africa. The above battery procurement plan is a planning objective, and the final procurement quantity and delivery cycle are subject to uncertainty due to the impact of project implementation progress.

The African solar energy storage and charging market is accelerating its expansion

The cooperation between Jinguan Electric and SPIRO is in line with the accelerating trend of the African solar energy storage and charging market. Africa has excellent sunshine conditions, but the power grid coverage is insufficient, and many areas have unstable power supply. By 2025, the newly installed photovoltaic capacity in Africa will increase by 54% year-on-year, with distributed off grid accounting for nearly 44%. Off grid solar charging infrastructure is becoming a key solution for addressing Africa's electricity accessibility and electric mobility needs. The annual growth rate of electric two wheelers and three wheelers in Africa has reached 38%. Integrated photovoltaic, energy storage, and charging power stations can operate independently in areas with weak or completely off grid power grids through a combination of photovoltaic power generation and energy storage regulation and charging facilities. Zhang Yongwei, Chairman of the Chebaihui Research Institute, introduced at a forum in June 2026 that the four piece set of photovoltaic, energy storage, charging, and electric vehicles, which cost less than 20000 US dollars, is a popular transportation integration solution in many African countries. This mode has solved a series of problems such as power consumption of users, mobility of travel and insufficient power supply, and provided a cost basis for the large-scale promotion of distributed optical storage and charging projects in Africa. Keywords: International News Network, Photovoltaic, Energy Storage, New Energy

Batch execution and release of procurement in batches

The integrated photovoltaic storage and charging power station is a combined entry point for African new energy supporting equipment to go global. Jinguan Electric is undertaking EPC general contracting, covering system integration of photovoltaic power generation, energy storage regulation, and charging facilities. For small and medium-sized enterprises engaged in photovoltaic modules, energy storage systems, charging stations, and power electronic equipment, the phased implementation of 50 power stations means that equipment procurement needs will be released in batches with the signing of special EPC agreements, rather than centralized procurement at once. Supporting enterprises can track the signing pace of subsequent special execution agreements for Jinguan Electric and grasp the window for batch procurement. The expansion of SPIRO's battery swapping network has created a clear scenario demand for supporting optical storage and charging. It has built over 2500 battery swapping stations in seven African countries, and the 50 optical storage and charging stations are an important part of its network expansion. Regarding the production of energy storage batteries BMS、 For small and medium-sized enterprises in the charging module industry, SPIRO plans to purchase approximately 350000 batteries from China for about $100 million by 2026. This procurement scale means that the upstream supply chain demand for battery swapping networks is being released on a large scale. But the procurement plan is a planning goal, and the final procurement quantity and delivery cycle are affected by the project implementation progress.Editor/Gao Xue