Octopus Energy’s generation arm has launched its first African energy fund aimed at accelerating clean energy investment across the continent. Announced at the Africa Energy Forum in Cape Town, the Octopus Energy Power Africa Fund (OEPA) will begin with $60 million in capital, with plans to mobilise up to $250 million over the next three years.
Focusing initially on Sub-Saharan Africa, the fund will support projects in rooftop solar, battery storage, electric vehicle infrastructure, and grid upgrades. The initiative aims to improve energy access and reliability while tapping into Africa’s vast renewable energy potential.
Octopus Energy Generation is partnering with African investment firm Pembani Remgro Infrastructure Managers (PRIM) to develop an investment model suited to emerging markets. Africa currently accounts for roughly 40% of the world’s renewable energy resources but attracts only 2% of global clean energy investment.
The OEPA fund builds on Octopus Energy’s recent involvement in solar battery company MOPO, which provides power to off-grid communities, and its partnership with Akuna Group to establish Sierra Leone’s first wind farm on Sherbro Island.
Zoisa North-Bond, CEO of Octopus Energy Generation, said the fund aims to harness Africa’s natural resources to support a transition towards sustainable energy systems. Ashleigh Gray, Director of OEPA, added that the fund offers a strategic entry point into one of the world’s fastest-growing energy markets.
Herc van Wyk, CEO of PRIM, said the partnership reflects growing interest in African infrastructure investment and the opportunity to channel capital into clean energy development across the region.
