UK-based Octopus Energy launches Africa fund; partners with Pembani Remgro
London-headquartered Octopus Energy’s generation arm has launched the Octopus Energy Power Africa Fund.
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London-headquartered Octopus Energy’s generation arm has launched the Octopus Energy Power Africa Fund (OEPA).
OEPA plans to invest in clean energy solutions – from rooftop solar and battery storage to electric vehicle charging infrastructure and grid upgrades.
Octopus Energy Generation is working with Pembani Remgro Infrastructure Managers to create a model that opens new doors for green investments in emerging markets.
The fund is starting with an initial $60 million and has a target of $250 million.
Zoisa North-Bond, CEO at Octopus Energy Generation, said: “Africa is abundant with clean energy potential – enough to build the next-generation renewable powerhouse and a greener, fairer future fueled 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.”
Ashleigh Gray, director of the Octopus Energy Power Africa Fund, commented: “With the Octopus Energy Power Africa Fund, 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.”
Herc van Wyk, CEO at Pembani Remgro Infrastructure Managers, added: “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.”
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