Octopus Energy, a British renewable energy company, has announced its ambitious plans to build dozens of wind farms across Africa, starting with a project in Sierra Leone. The company, which has been expanding rapidly in the UK and overseas, said it was driven by a vision of a green and sustainable future for the continent.
The first project will involve installing up to five wind turbines on Sherbro Island, off the coast of Sierra Leone, to provide power to an “eco-city” being developed by Sherbro Alliance Partners, a local organization co-founded by the actor Idris Elba. The eco-city, which aims to create a model of low-carbon living and economic development, will also feature solar panels, battery storage, and electric vehicles.
Greg Jackson, the chief executive of Octopus Energy, said the project was a “proof of concept” that would pave the way for more wind farms in Africa. He said the company was looking for locations where wind power could meet the needs of local communities and businesses, as well as potentially supplying electricity to the national grid.
“By relentlessly looking for what the end-users, the communities, want from these projects, I think we’re going to be able to build one, then ten, then a hundred,” he said at the Cop28 climate conference.
He added that Octopus Energy was not seeking to make profits from the African projects but rather to reinvest any surplus into further expansion. He said the company’s goal was to help Africa leapfrog fossil fuels and embrace renewable energy, which he described as “the cheapest, most abundant, and most democratic” source of power.
Africa has a huge potential for wind energy, with some of the best wind resources in the world. However, the continent currently accounts for less than 1% of the global installed wind capacity, according to the Global Wind Energy Council. Many African countries face challenges such as a lack of infrastructure, financing, and policy support to develop their wind sector.
Octopus Energy’s initiative is part of a growing trend of private sector involvement in renewable energy projects in Africa, which have traditionally relied on public funding and development aid. Other examples include the Lake Turkana Wind Farm in Kenya, the largest in Africa, which was financed by a consortium of private investors, and the West Bakr Wind Project in Egypt, which is being built by Lekela Power, a renewable energy company backed by private equity.
Experts say that private sector investment is crucial for scaling up renewable energy in Africa, which has the lowest electrification rate in the world and a rapidly growing demand for power. Renewable energy can offer a clean, affordable, and reliable solution to the continent’s energy challenges, as well as creating jobs and boosting economic growth.
Octopus Energy, which was founded in 2015, has grown to become one of the leading challengers to the Big Six energy suppliers in the UK, with more than two million customers. It has also expanded into Germany, Australia, New Zealand, and the US, and has recently acquired stakes in two offshore wind farms in the UK. The company prides itself on its green credentials, offering 100% renewable electricity and carbon-neutral gas to its customers, as well as investing in smart technology and innovation.
Jackson said he hoped that Octopus Energy’s African projects would inspire other companies and governments to follow suit and support the transition to renewable energy. He said he believed that Africa could become a global leader in green energy and a beacon of hope for the world.
“I think Africa has the opportunity to show the rest of the planet how it’s done,” he said.
Source: The Times