UK-based Octopus Energy Generation, the renewables investment arm of global clean tech leader Octopus Energy, has unveiled a landmark initiative aimed at transforming the clean energy landscape across Africa. The newly launched Octopus Energy Power Africa Fund (OEPA) is targeting $250 million in private capital to accelerate the adoption of renewable energy solutions in sub-Saharan Africa, a region with vast but underutilized green energy potential.
The OEPA Fund, backed by a cornerstone investment from Octopus Energy itself, is designed to attract a wide range of global investors and aims to reach a first close of $60 million within 12 months. Final close is projected over the next three years. The fund will channel its investments into diverse clean energy solutions, including rooftop solar power systems, battery energy storage, electric vehicle (EV) charging infrastructure, and grid modernization projects. These technologies are crucial to addressing Africa’s energy access gap, improving resilience, and transitioning toward a low-carbon economy.
Africa possesses 39% of the world’s renewable energy resources more than any other continent yet only attracts 2% of global clean energy investments, according to the International Energy Agency (IEA). With rapid population growth, increasing urbanization, and soaring energy demand, the continent is seen as a critical frontier for clean energy deployment.
Octopus has partnered with Pembani Remgro Infrastructure Managers, a leading Africa-based sustainable infrastructure investment firm, to structure and potentially manage the OEPA fund. This partnership underscores the importance of local expertise and context-driven strategies in unlocking Africa’s full green energy potential. Pembani may assume a dedicated mandate for fund management as the initiative evolves.
Zoisa North-Bond, CEO of Octopus Energy Generation, emphasized the transformative potential of the fund:
“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. By partnering with local experts, such as Pembani Remgro Infrastructure Managers, we aim to accelerate that future and create new green pathways.”
This announcement follows a string of recent Octopus Energy investments in African energy access. In November 2024, Octopus partnered with the Akuna Group founded by actor and philanthropist Idris Elba, to develop Sierra Leone’s first wind farm on Sherbro Island, a milestone project aimed at catalyzing clean energy access in West Africa. Earlier in June 2025, Octopus also invested in MOPO, a UK-based cleantech company that provides solar-powered batteries on a pay-per-use model to off-grid communities and micro-businesses across sub-Saharan Africa.
The OEPA Fund reflects Octopus Energy’s broader commitment to global climate equity and the democratization of energy. By bridging the gap between capital markets and underserved regions, the fund seeks not only to generate financial returns but also to advance the United Nations Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).
As global investors increasingly prioritize sustainability and climate resilience, the Octopus Energy Power Africa Fund is poised to serve as a pivotal instrument in unlocking Africa’s clean energy potential, driving inclusive growth, empowering local communities, and charting a path toward a sustainable future.
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