At a Glance
- Octopus Energy launches a $60 million fund to boost Africa’s renewable energy infrastructure.
- Partnership with PRIM targets $250 million scale-up for solar, EVs, and battery storage projects.
- Africa attracts rising FDI as global investors chase ESG-aligned, clean energy opportunities.
Octopus Energy, one of the UK’s leading renewable energy companies, has unveiled a $60 million fund aimed at accelerating clean energy investment across Africa—signaling a strategic move into one of the world’s fastest-growing renewable energy markets.
Unveiled at the Africa Energy Forum in Cape Town, the Octopus Energy Power Africa Fund (OEPA) aims to address the region’s vast energy gaps while tapping into its world-class renewable potential.
The fund is structured to mobilize capital for high-impact projects—including solar installations, battery storage systems, EV charging infrastructure, and smart grid upgrades—across one of the world’s fastest-growing energy markets.
Despite holding 40% of global renewable energy potential, Africa receives only 2% of global clean energy investment—a gap Octopus aims to close with its high-impact, scalable model.
Bold bet on Africa’s green energy future
With a target to scale the fund to $250 million within three years, Octopus is partnering with South Africa-based Pembani Remgro Infrastructure Managers (PRIM) to attract institutional investors seeking long-term, sustainable returns in frontier markets.
“Africa can become the world’s next renewable energy superpower,” said Zoisa North-Bond, CEO of Octopus Energy Generation.
“By working with local partners like PRIM, we’re building smarter, scalable models to accelerate the continent’s green transition—powered by sunshine, wind, and innovation.”
Ashleigh Gray, Director of OEPA, added: “Demand for energy is rising sharply across Africa.
This fund offers forward-looking investors a gateway into clean energy growth markets that are ripe for transformation.”
PRIM CEO Herc van Wyk emphasized the region’s growing appeal: “Infrastructure investment in Africa is gaining traction, and this partnership with Octopus will help unlock new capital flows for sustainable energy solutions across Sub-Saharan Africa.”
Global climate goals drive clean energy investment in Africa
Octopus Energy’s Africa push comes amid a surge in foreign direct investment (FDI) into the continent’s renewable energy ecosystem, as global players seek climate-aligned returns while supporting just energy transitions.
Founded in 2015, Octopus Energy now operates across 32 countries with a £7 billion clean energy portfolio and serves over 9 million global customers.
The company’s integrated approach spans energy generation, distribution, and tech-driven customer platforms—making it a key player in the global energy transition.
As the world races toward net-zero, Africa’s green energy expansion—backed by firms like Octopus—is no longer a future ambition, but a fast-accelerating reality.
