Octopus Energy has launched its first Africa fund, with a target to mobilise US$250m (€217m) for investment in renewables projects across Sub-Saharan Africa.
Octopus Energy Power Africa Fund (OEPA) has been launched by Octopus’s energy generation arm, and is designed to unlock funding to realise the continent’s “huge clean energy potential”, the company said.
OEPA plans to invest in a range of clean energy solutions, from rooftop solar and battery storage to electric-vehicle charging infrastructure and grid upgrades, it added.
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”, Octopus said.
Zoisa North-Bond, CEO at Octopus Energy Generation, said: “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 OEPA, said: “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 added that “there is a growing awareness of the opportunity presented by infrastructure investment in Africa”.
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