Octopus Energy Launches Landmark Africa Energy Fund
Octopus’ first Africa fund aimed at turbocharging cheap, clean energy on the continent, with a target to mobilise $250m in investment
Octopus Energy Generation has unveiled its first African energy fund, marking a significant milestone in its global push to accelerate the green energy transition.
Announced at the Africa Energy Forum in Cape Town, the new Octopus Energy Power Africa Fund (OEPA) will drive investments into clean energy infrastructure across Sub-Saharan Africa.
Launched with an initial $60 million and a target to raise $250 million over the next three years, the fund aims to unlock the continent’s vast renewable energy potential. OEPA will back transformative projects including rooftop solar, battery storage, electric vehicle charging, and vital grid upgrades — supporting both underserved communities and fast-growing businesses.
To execute its African strategy, Octopus Energy is partnering with Pembani Remgro Infrastructure Managers (PRIM), a leading African investment specialist. The collaboration aims to establish a scalable and practical model for green investments in emerging markets.
“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,” said Zoisa North-Bond, CEO of Octopus Energy Generation. “By partnering with local experts, such as Pembani Remgro Infrastructure Managers, we aim to accelerate that future and create new green pathways.”
The new fund comes as global interest in Africa’s energy market intensifies. Despite the continent hosting nearly 40% of the world’s renewable energy resources, it currently receives just 2% of global clean energy investment. Octopus hopes OEPA will change that narrative by attracting capital to one of the world’s most promising — yet underfunded — green energy frontiers.
Ashleigh Gray, Director of the Octopus Energy Power Africa Fund, highlighted the region’s strong investment potential. “With OEPA, 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.”
The launch builds on Octopus’s existing footprint in Africa, including a recent investment in solar battery innovator MOPO, which powers off-grid homes and businesses. The company is also working with Akuna Group to develop Sierra Leone’s first wind farm on Sherbro Island — a landmark project set to bring reliable, clean power to communities long neglected by traditional electricity grids.
Herc van Wyk, CEO of PRIM, welcomed the partnership: “There is a growing awareness of the opportunity presented by infrastructure investment in Africa, and we look forward to collaborating with Octopus to unlock new sources of capital for clean energy solutions in Sub-Saharan Africa.”
As Octopus Energy expands its reach, the OEPA fund represents a bold step toward bridging Africa’s energy gap — and positioning the continent at the heart of the global clean energy revolution.
