Octopus Energy mobilises $450mn for energy projects in sub-Saharan Africa
Octopus Energy joins a global initiative to accelerate renewable energy deployment in Africa, committing $450mn through its Power Africa programme to supply electricity to more than one million people.
| Sectors | Wind Energy, Power Grids, Solar Energy, Onshore, Photovoltaic, Distribution |
|---|---|
| Themes | Investments & Transactions, Financing, Project Development |
Octopus Energy Generation has partnered with the European Commission, the Republic of South Africa and Global Citizen as part of the Scaling Up Renewables in Africa campaign. The initiative, launched during the G20 summit in Johannesburg, has mobilised $17.8bn (€15.5bn) in public and private funding to expand renewable energy infrastructure across the continent.
As the only British company involved in the campaign, Octopus Energy has committed up to $450mn through its Power Africa programme. This funding will support a range of projects including solar and wind generation, grid modernisation, and the deployment of technologies that directly connect energy generation to homes and businesses.
Targeted projects for expanded electrification
According to announced targets, Octopus’s contribution could provide electricity to up to 1.1 million people in sub-Saharan Africa. This effort is part of the wider campaign’s ambition to bring electricity access to more than 17.5 million households across the continent.
Among the supported projects is the construction of Sierra Leone’s first wind farm on Sherbro Island, in partnership with Akuna Group. Octopus has also recently invested in MOPO, a company specialising in portable solar batteries for rural areas that are difficult to connect to the grid.
Unprecedented international coordination
The Scaling Up Renewables in Africa campaign represents the largest coordinated initiative to date aimed at expanding renewable energy capacity in Africa. It brings together governments, investors and businesses to drive regional economic growth based on clean energy.
Michael Sheldrick, Co-Founder of Global Citizen, praised the scope of this multi-stakeholder cooperation, describing it as proof that international alliances remain feasible despite geopolitical tensions. According to him, the approach demonstrates the strategic role that the private sector can play alongside governments in developing sustainable energy infrastructure.
