Octopus Energy Generation has joined the European Commission, the Republic of South Africa and Global Citizen’s Scaling Up Renewables in Africa campaign, which announced that it had raised $17.8 billion (€15.5bn) in public and private sector contributions during the G20 Leaders’ Summit in Johannesburg.
Octopus is the only British business contributing to the global campaign, leveraging its Power Africa Initiative to catalyse $450 million. In addition to new solar and wind generation, the Power Africa Initiative will focus on a range of clean-energy investments, including grids, distributed assets and technologies that connect generation with people and businesses fuelling growth.
The Scaling Up Renewables in Africa campaign marks the largest coordinated effort ever to expand renewable energy and grid infrastructure across Africa – uniting governments, investors, and businesses to unlock the continent’s extraordinary clean energy potential.
Octopus Energy’s commitment builds on its recent investment in solar battery pioneer MOPO, powering off-grid homes and businesses with portable, solar-powered batteries and bringing reliable electricity to underserved African communities difficult to connect to the grid.
In partnership with the Akuna Group, Octopus Energy Generation is also building Sierra Leone’s first-ever wind farm on Sherbro Island to drive economic growth and success.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “Africa’s renewables story goes beyond energy access – it’s also about investing smartly to unleash prosperity. With 60% of the world’s solar potential, Africa sees only 2% of global renewables investment.
“We’re changing this: unlocking up to $450 million through our Power Africa Initiative to power 1.1 million people and helping to convert the continent’s abundant clean energy potential into shared economic prosperity.”
Michael Sheldrick, Co-Founder and Chief Policy, Impact & Government Affairs Officer at Global Citizen, said: “Despite extremely difficult geopolitical conditions, the Scaling Up Renewables in Africa campaign has shown that international cooperation remains possible when countries take responsibility. This partnership demonstrates how governments, business and civil society can work together to accelerate renewable energy – from generation to grids and technology.”