Tag: Octopus Energy

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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Octopus Energy makes more waves in offshore wind with $1bn invested and plans to rapidly scale

Stuart Mitchell

Octopus Energy’s generation arm hits $1bn in offshore wind investments in less than a year, with plans to rapidly scale investments. It comes as Octopus further invests in the 270 MW Lincs offshore wind farm off the east coast of England, increasing Octopus’ stake in Lincs to 31%. Octopus Energy Generation’s fund management team previously managed a 23.25% stake in Lincs on behalf of the Sky fund (ORI SCSp) and Octopus Renewables Infrastructure Trust (ORIT). This additional 7.75% stake has been acquired on behalf of Octopus’ Sky fund. The Lincs…

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Running on Sunshine: Octopus Energy enters solar installation market

Stuart Mitchell

Octopus Energy is adding domestic solar photovoltaic (PV) to its catalogue of home energy tech installation, helping to slash customers’ electricity bills and create a multitude of new green jobs. Octopus Energy’s engineering arm, Octopus Energy Services, which already installed electric vehicle chargers, air-source heat pumps and smart meters, is now also installing solar panels. The company is aiming to quickly ramp up the rollout, targeting 5,000 installations in 2023. The new service is launching across the Midlands and the South, with a view to expand it nationwide within the…

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