Octopus Energy, a British group active in clean energy technologies, announced on Wednesday 18 June the launch of its first African energy fund. Objective: to boost investments in one of the most promising renewable energy markets in the world

With an initial budget of 60 million dollars, this new instrument called OEPA will finance high-impact solutions, including decentralized solar, battery storage, battery storage, charging infrastructure for electric vehicles and the modernization of electrical networks. Octopus has partnered with Pembani Remgro Infrastructure Managers (PRIM) to structure an investment model

“With the Octopus Energy Power Africa fund, we are opening a new gateway to a region where demand is exploding. This is an exceptional opportunity for visionary investors to support high-impact clean energy projects and to grow alongside one of the most promising markets in the world,” said Ashleigh Gray, director of the Octopus Energy Power Africa Fund

Africa has significant renewable energy potential, but still only accounts for 2% of global investments in this sector, according to IEA data. Octopus intends to contribute to the reversal of this trend. The company recently invested in MOPO, a supplier of solar batteries for off-grid homes, and in the Sherbro Island wind farm project in Sierra Leone, through a partnership with Akuna