Octopus Energy Invests £2 Billion in UK Green Energy

Octopus Energy, a leading renewable energy company, has announced a significant investment of £2 billion in UK clean energy projects by 2030.

This investment will support the development of new solar farms and battery projects, contributing to the UK’s transition to a greener energy future. The company has recently secured four new solar farm projects with a combined capacity of 222 MW and is breaking ground on a 12 MW battery project.

These projects will help power tens of thousands of homes and reduce emissions equivalent to removing thousands of fossil-fuel cars from the road. Octopus Energy’s investment aligns with the UK government’s target of tripling solar capacity by 2030.

In addition to these projects, Octopus Energy has increased its stake in Exagen, a British solar and storage developer. This investment will accelerate the rollout of new renewables projects in the UK.

The company is also actively pursuing new onshore wind projects, taking advantage of the recent government planning reforms. Octopus Energy’s “Fan Club” scheme offers customers living near wind turbines discounted rates when the wind is blowing.

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “The UK is on the verge of a green energy revolution. This £2 billion investment in homegrown renewables will help boost our energy security and pave the way for a more affordable energy future. Solar and onshore wind are among the cheapest energy sources available. By building closer to demand, we can maximise green electricity when it’s abundant and lower bills for customers nationwide.”

Octopus Energy’s commitment to renewable energy and its significant investment in UK projects demonstrate the company’s role in driving the country’s transition to a greener future.