We have at all times believed that low-cost, clear vitality should not be a privilege. That is why we have spent years constructing wind farms throughout the UK and past and created progressive methods for our prospects to affix the inexperienced vitality revolution.
Now we’re taking one in all our greatest worldwide leaps but. We have simply launched our first African vitality fund with the objective of mobilising £250 million over the subsequent three years to convey clear vitality to communities throughout the continent.
Unlocking Africa’s renewable potential
Africa is dwelling to just about 40% of the world’s renewable vitality potential. But this energy-rich continent receives simply 2% of worldwide clear vitality funding. Hundreds of thousands of individuals nonetheless lack dependable electrical energy regardless of sitting on a few of the planet’s finest photo voltaic and wind sources.
That’s precisely what we need to change. To supercharge the vitality transition throughout Africa’s sun-soaked landscapes, we’ve launched the Octopus Power Energy Africa Fund with an preliminary £60 million and an bold plan to develop it to £250 million over the subsequent three years. From rooftop photo voltaic and battery storage to electrical car charging and sensible grid upgrades, the fund will again initiatives that gentle up Sub-Saharan Africa.
A special method to funding
We need to do that proper. That is why we’re working with traders who share our mission and who perceive that constructive affect and funding go collectively. These embrace household workplaces, foundations, and people who care about constructing one thing significant alongside monetary success.
We’re additionally working with fund design consultants to create extra versatile funding buildings than typical infrastructure funds, making certain our method works for each traders and the communities we’re supporting.
Creating alternative, one neighborhood at a time
Whereas our new Octopus Power Energy Africa Fund is our most bold leap in Africa but, it’s removed from the start of our journey there. In partnership with Idris Elba’s Akuna Group, we’re constructing Sierra Leone’s first wind farm to convey clear, inexpensive vitality to the realm and kick-start a brand new wave of inexperienced economic system,
Throughout Africa, good minds are creating the subsequent breakthrough vitality applied sciences. To have a good time and help their innovation, we’ve launched the Africa Power Entrepreneurship Awards in partnership with the King’s Sustainable Markets Initiative.
And we’re additionally working with MOPO, a solar-powered battery firm renting power-bank-style models on a pay-as-you-go foundation, serving to households and companies unlock financial alternatives that had been beforehand out of attain.
International issues require international options
You would possibly marvel what an African photo voltaic farm has to do with British vitality prospects. The reply is all the pieces. Local weather change does not respect borders. Each photo voltaic panel put in in Kenya reduces international carbon emissions. Each wind turbine in South Africa means much less fossil gasoline energy wanted elsewhere.
The worldwide vitality transition advantages everybody. By producing energy the place the solar shines brightest and the wind blows strongest, we will profit from ample renewable potential. This implies driving down vitality prices shortly whereas constructing a clear vitality system that advantages all.
Once we assist energy a hospital in Ghana or join a college in Kenya to the grid, we’re a part of constructing a fairer, cleaner world. Africa’s vitality demand is predicted to develop sooner than wherever on Earth. As nations in Africa increase their vitality infrastructure, there’s a chance to leapfrog a deeper fossil gasoline dependence – simply as swaths of the continent adopted cell phones as a substitute of in depth landline installations. Investing in renewables now can energy Africa’s progress with out locking in many years of fossil gasoline intensive infrastructure.
The selection we make now about find out how to energy that progress will form the local weather for generations.
The vitality revolution goes international
We have confirmed that renewable vitality could be low-cost, dependable, and in style. Our prospects love our clear tariffs and progressive merchandise, like The Collective, the place individuals can put money into native wind and photo voltaic initiatives from £25.
Now we’re scaling that success globally. Africa might develop into a clear vitality superpower with its ample sunshine, robust winds, and rising vitality demand. Increasing entry to renewable vitality doesn’t simply energy properties; it powers alternative. It allows entrepreneurs to thrive, companies to develop, and communities to construct sustainable prosperity for the longer term.
Our job as a worldwide vitality disruptor is to assist native communities and traders make that occur.
Samsam’s Renewable World highway journey in Kenya
Comply with our journey to distant Kenyan well being facilities the place Octopus Power-funded photo voltaic installations will convey life-saving electrical energy to services serving over 25,000 individuals
The Collective
Spend money on renewable vitality initiatives from simply £25 and earn a goal return whereas powering the planet’s clear vitality future
Investing in wind, photo voltaic, and a greener future – within the UK and past
Octopus Power Technology has invested over $2 billion in renewable initiatives worldwide, from one in all Earth’s largest offshore wind farms within the UK to photo voltaic installations in South Korea and France
