Octopus Energy Generation is targeting to mobilise $250million in investment over the next three years for its first Africa fund aimed at turbocharging cheap, clean energy on the continent.
The Octopus Energy Power Africa Fund (OEPA) opens the door for investors to support renewables projects across Sub-Saharan Africa (SSA). This move marks the next big step in Octopus Energy Generation global green mission.
Launching with an initial $60 million and ambitions to mobilise $250 million over the next three years, OEPA invites forward-thinking investors to join this exciting journey.
Home to nearly 40 percent of the world’s renewables potential, Africa could become a global clean energy powerhouse.
The fund launched at the Africa Energy Forum (AEF) in Cape Town on Wednesday is designed to unlock funding that catalyses the continent’s huge clean energy potential – bringing together forward-thinking investors to power communities and businesses with affordable, homegrown, green energy.
Starting with projects across Sub-Saharan Africa, OEPA plans to invest in game-changing clean energy solutions – from rooftop solar and battery storage to electric vehicle charging infrastructure and grid upgrades.
As part of the move, Octopus Energy Generation is also working with African investment specialist Pembani Remgro Infrastructure Managers (PRIM) to create a smart, practical model that opens new doors for green investments in emerging markets.
Africa’s energy market is one of the fastest-growing globally, driven by an unmatched abundance of sunshine and wind. The continent is home to around 40 percent of the world’s renewable resources, yet receives just 2 percent of global clean energy investment.
Zoisa North-Bond, CEO at Octopus Energy Generation, says: “Africa is abundant with clean energy potential – enough to build the next-generation renewable powerhouse and a greener, fairer future fuelled by sunshine and wind. By partnering with local experts, such as Pembani Remgro Infrastructure Managers, we aim to accelerate that future and create new green pathways.”
Ashleigh Gray, Director of the Octopus Energy Power Africa Fund, says: “With the Octopus Energy Power Africa Fund, we’re offering a new gateway into a region where demand is soaring. This is an incredible opportunity for forward-thinking investors to support transformative clean energy projects and grow with one of the world’s most exciting markets.”
Herc van Wyk, CEO at Pembani Remgro Infrastructure Managers says: “There is a growing awareness of the opportunity presented by infrastructure investment in Africa and we look forward to collaborating with Octopus to unlock new sources of capital for clean energy solutions in Sub-Saharan Africa.”
The launch of OEPA is the next step in Octopus’ mission to bring affordable, green energy to more people globally, and comes hot off the heels of its investment in MOPO – a solar battery innovator powering off-grid homes and businesses to accelerate clean energy access across Africa.
The fund also builds on Octopus’s partnership with Akuna Group to deliver Sierra Leone’s first-ever wind farm on Sherbro Island, bringing clean, reliable power to local homes and businesses to a region long underserved by traditional grids.
