British energy group Octopus Energy announced the Octopus Asia Electrification Fund (OAEF) at the COP31 summit in Antalya. According to the company’s statement of 10 November 2026, the fund aims to mobilise USD 600 million from institutional investors and has already secured USD 50 million in commitments from Japanese investors.
450 MW of solar and 350 MWh of batteries in the Philippines
The fund’s first investment went to Octali Energy Development, a Manila-based solar and energy storage developer, marking Octopus’s first entry into the Philippine market. Octali plans to develop 450 MW of solar and 350 MWh of battery storage capacity by 2030. According to the company, this capacity could generate enough clean electricity each year to supply more than 300,000 Philippine homes by 2030.
The fund will be managed by the group’s generation arm, Octopus Energy Generation, with its Asia strategy run by a Singapore-based team. Besides the Philippines, the fund targets Japan, South Korea, Singapore, Indonesia, Thailand, Malaysia and Vietnam. Its scope covers solar, onshore wind and storage as well as technologies such as microgrids and electric vehicle charging. The fund is classified as an Article 9 fund under the EU Sustainable Finance Disclosure Regulation (SFDR).
A pipeline of more than 2 GW in Asia
According to the statement, Octopus has more than 2 GW of clean energy projects under development in Asia. The statement also noted that over 60 percent of electricity in the Philippines comes from coal. Zoisa North-Bond, CEO of Octopus Energy Generation, said Asia is at the heart of the global energy transition.
Sources
- Octopus Energy, “British energy giant Octopus launches investment fund to power Asia with cheap, clean energy”, 10 November 2026. octopus.energy
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