Octopus Energy has launched its first Africa fund, with a target to mobilise US$250m (鈧�217m) for investment in renewables projects across Sub-Saharan Africa.
Octopus Energy Power Africa Fund (OEPA) has been launched by Octopus鈥檚 energy generation arm, and is designed to unlock funding to realise the continent鈥檚 鈥渉uge clean energy potential鈥�, 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 鈥渟mart, practical model that opens new doors for green investments in emerging markets鈥�, Octopus said.
Zoisa North-Bond, CEO at Octopus Energy Generation, said: 鈥淎frica is abundant with clean energy potential 鈥� 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.鈥�
Ashleigh Gray, director of OEPA, said: 鈥淲e鈥檙e 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鈥檚 most exciting markets.鈥�
Herc van Wyk, CEO at Pembani Remgro Infrastructure Managers added that 鈥渢here is a growing awareness of the opportunity presented by infrastructure investment in Africa鈥�.
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