UK-based energy company Octopus Energy Group has launched a new renewable energy fund with a£165 million($218.23 million)cornerstone investment.It will provide access to investors to more than 50 renewable energy projects in 15 countries.

The new CG Octopus Energy Sustainable Growth Fund I(Astris)will invest in wind,solar,and large-scale battery projects,among others.

Octopus said the fund is now open to private wealth investors and pension schemes through major investment platforms.Unlike most traditional private market funds,it will provide the investors monthly access to the fund,explained Octopus.

“It’s been built from the ground up to remove the structural barriers for investors wishing to participate in the$275 trillion generational investment opportunity to fund the energy transition and invest alongside professional investors and institutional funds from around the world,”said Octopus Energy Generation Co-Head Matt Setchell as he referred to a McKinsey&Company report according to which the world will need around$275 trillion in cumulative capital spending on physical assets to achieve net-zero emissions globally.

“Day one investors will own a globally diverse portfolio of renewable projects and companies–delivering genuine impact with no compromise on financial returns,”added Setchell.

Octopus currently manages£7 billion($9.26 billion)of green energy projects that power over 2.4 million homes/year.It targets to‘unleash’£20 billion($26.45 billion)by 2030.