Tag: Octopus Energy

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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Octopus Energy drives solar power in Iberia with renewables developer partnership

Stuart Mitchell

Octopus Energy’s generation arm expands green power in Iberia by investing in renewables developer FF New Energy Ventures (FFNEV) to develop more cheap green power, reducing fossil fuels reliance. The Octopus Energy Development Partnership (OEDP) investment in Spanish-founded FFNEV will scale activity in Spain and Portugal, and accelerate expansion into new European countries and Latin America in the future. This marks Octopus’ first entry into Portugal’s green generation market. FFNEV has 2.1GW of renewable projects in their pipeline already and is also participating in floating offshore wind development with a…

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Octopus Energy acquires renewables developer to boost British solar

Stuart Mitchell

Octopus Energy Group’s generation arm announces the acquisition of UK solar developer and asset manager Zestec Renewable Energy to build cheap solar power on British businesses’ roofs, helping to drive down energy bills. Zestec is developing a pipeline of over 160 MW of new UK solar energy which will be sold to the organisations hosting the solar panels via power purchase agreements (PPA). This will allow SMEs, public sector organisations like schools and local councils, as well as large corporations to benefit from self-generated green power without footing the cost…

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Major firms work together to drive regional green investment

Stuart Mitchell

Four of Britain’s biggest firms are working together to advise on pilot projects to drive green investment into local areas, and promote economic growth. As part of the Prime Minister’s Business Council, the leaders of Lloyds Banking Group, Octopus Energy, Shell and National Grid have launched the Local Low Carbon Accelerator (LLCA) project to provide a blueprint for local authorities and the private sector to work together and get green infrastructure delivered faster. Localised green infrastructure projects are key in the road to net zero , given the focus on…

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