Energy transition

Octopus Energy’s generation arm has partnered with Pembani Remgro Infrastructure Managers on a new fund to invest into clean energy solutions on the African continent.

The commitment by the French infrastructure investor will support the creation of one gigawatt of renewable energy capacity across Europe.

The London Pensions Fund Authority will commit approximately £400m to sectors including energy efficiency and renewables, sustainable industry, transport, reforestation and wetland restoration projects.  

The Scatec-owned project in central Egypt, to be operational in 2026, is being fast-tracked as part of efforts to alleviate the country’s energy crisis.

The new facility will support clean energy integration across South Africa, create 20,000 jobs and boost the local economy in the country’s Eastern Cape province.

The fund will provide non-dilutive and subordinated risk capital to SMEs operating in the textile and fashion supply chains in India, Bangladesh, Vietnam and Turkey.

The study found that every $1 invested in climate adaptation and resilience generates more than $10 in benefits over ten years.

Impact investing consultancy Phenix Capital said uncertainties surrounding national net-zero targets and requirements around the world were among factors giving impact investors food for thought.

The investment was made by Norwegian, Swedish and British development finance institutions to support the development of clean and climate-positive technologies in Africa.

The partnership aims to improve access to green asset financing for SMEs and small mid-caps in France, Germany, Italy and Spain.