Tag: Octopus Energy

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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Octopus Energy and RES to swap gas for green hydrogen at Andrex & Kleenex factories in the UK

Stuart Mitchell

RES and Octopus Energy Generation’s green hydrogen joint venture HYRO is working with Kimberly-Clark, the parent company of household brands like Andrex®, Kleenex® and Huggies®, to swap gas for green hydrogen at UK factories, to reduce emissions and boost energy security. HYRO is working with industrial businesses to develop, own and operate green hydrogen plants, making the most of local renewables when it’s sunny and windy. In this latest deal, HYRO is developing electrolysers to produce green hydrogen at two Kimberly-Clark UK manufacturing facilities. The on-site electrolysers will use electricity…

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Octopus Energy announces €1 billion investment in French green energy market and new European tech hub in Paris

Stuart Mitchell

Octopus Energy, the UK’s third largest energy retailer, has announced plans to invest €1 billion in the French green energy market over the next two years. The investment will be used to accelerate the energy transition in France and generate enough local green power to supply 300,000 households. Building on its investments already made in France, the company is launching a new European tech hub in Paris through its subsidiary Kraken. The new hub will create hundreds of clean energy jobs and support millions of customers across the continent. Octopus…

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Octopus Energy strikes solar supply deal with Iceland Foods

Stuart Mitchell

Octopus Energy’s generation arm has inked a new partnership with Iceland Foods, the UK’s leading frozen food retailer. The 10-year deal will see green power supplied to Iceland from the Breach solar farm in Cambridgeshire, which Octopus manages on behalf of Octopus Renewables Infrastructure Trust (ORIT). The solar farm will provide c.64 Gigawatt hours (GWh) of renewable energy every year to power 150 sites, which will cover 14% of Iceland Foods’ electricity needs for its UK stores. Iceland has nearly 1,000 stores in the UK. This deal with Octopus will…

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