Tag: Octopus Energy

Octopus Energy to unleash $20bn of investment in offshore wind by 2030

Stuart Mitchell

Octopus Energy’s generation arm, which manages $7.7bn (£6bn) billion worth of green energy projects globally, today announces plans to unleash $20bn (£15bn) of investment into offshore wind by 2030. This will go towards the generation of 12 GW of renewable electricity capacity, enough power for 10 million homes. Octopus is targeting projects across the globe, with a focus on Europe – and already has several deals in the pipeline. It will back developers of new offshore wind farms as well as wind farms that are under construction or operational. The…

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Octopus Energy and Legal & General make Britain’s biggest investment in ground source heat pumps

Stuart Mitchell

Octopus Energy’s generation arm and Legal & General Capital are turbocharging Britain’s heat pump rollout by investing £70 million in the country’s leading manufacturer and installer of ground source heat pumps, The Kensa Group. This marks the biggest investment ever made in ground source tech in Britain. It will allow Kensa to rapidly expand and install 50,000 ground source heat pumps a year by 2030. The move will drive down costs of heat pumps and reduce reliance on polluting gas boilers. The UK is targeting 600,000 heat pump installations a…

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Octopus Energy reaches tentacles further into Asia with £1.5 billion investment in renewables and energy tech

Stuart Mitchell

Octopus Energy announces its commitment to invest £1.5 billion in the Asia-Pacific energy market by 2027, helping speed up the region’s transition to a cleaner, smarter energy system. The global energy and technology group is planning to invest £1.2 billion into solar and wind generation in the region, with half of the money going into Japanese renewables. Doubling down on its existing Asian headquarters, Octopus is committing a further £300m to expand its tech innovation and energy retail hub in Tokyo. This will enable the business to increase its headcount…

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Octopus Energy Group and Masdar sign agreement to manage UK battery storage

Stuart Mitchell

Global energy tech group Octopus Energy have announced it has signed a framework agreement with Masdar, one of the world’s leading clean energy companies, to license Octopus’ groundbreaking technology platform Kraken. Masdar will use Kraken to flexibly manage its battery storage portfolio in the UK. In the presence of HE Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President-Designate, the agreement was signed between Mohamed Jameel Al Ramahi, CEO of Masdar, and Greg Jackson, Founder and CEO of Octopus Energy Group,…

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Xlinks’ first-of-a-kind renewable energy project secures backing from TAQA and Octopus Energy

Stuart Mitchell

Xlinks First Limited has reached a critical early milestone with the successful closing of its new development funding round raising GBP30 million. The investment comes after securing GBP25 million (AED113 million) of investment from Abu Dhabi National Energy Company PJSC (TAQA), one of the largest listed integrated utility companies in the Middle East and North Africa region and GBP5 million (AED22 million) from global energy technology business, Octopus Energy Group. With their investment, TAQA and Octopus are validating Xlinks’ plans to lay the world’s longest high-voltage direct current (HVDC) subsea…

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