Octopus Energy Group has announced a joint venture (JV) with PCG Power to trade renewable electricity in China. The JV will operate under the name Bitong Energy and will focus on trading green electricity in China’s spot power markets, where electricity is bought and sold in real time. The JV will begin operations in Guangdong province and will expand to other regions as additional markets open.
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Fidra Energy has secured financial close for the Thorpe Marsh battery energy storage system (BESS) project in Doncaster, South Yorkshire, UK. The company has raised about £445 million in new equity from EIG and the National Wealth Fund (NWF), along with £594 million in loan facilities from various international lenders. With a total investment of nearly £1 billion, the BESS project will have a capacity of 1,400 MW/3,100 MWh.
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Octopus Energy Generation, the renewables investment arm of Octopus Energy Group, has acquired Hamburg-based green energy developer MN projects GmbH, adding a 2 GW pipeline of solar and battery storage projects in Germany to its portfolio. MN projects is currently developing over 70 renewable energy sites across the country, with the first projects ready for construction and more expected to reach that stage over the coming months and years.
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Octopus Energy has revealed plans to invest £2 billion in UK clean energy projects by 2030. As part of this initiative, the company, through its Octopus Energy Development Partnership (OEDP) and the Sky fund (ORI SCSp), has signed agreements with BayWa r.e. to develop four new solar farms in Bristol, Essex, East Riding of Yorkshire, and Wiltshire.
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Octopus Energy has purchased two solar farms in Ohio and Pennsylvania. The projects have a combined capacity of 100 MW. This is company’s first investment in US renewables market. Furthermore, the investment is part of the company’s plan to invest $2 billion in renewable energy projects by 2030. Reportedly, the company bought these assets from developer Vesper Energy Development.
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Octopus Energy’s generation arm has purchased a 50 per cent share of the German renewable energy company Lintas Green Energy. Reportedly, the move broadens the company’s national reach and accelerates the expansion of the Oldenburg-based green energy provider.
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Octopus Energy’s generation arm announces the launch of a new joint venture (JV) with Nexta Capital Partners to charge up Italy’s battery storage market. The new JV with Milan-based Nexta will develop up to 1.5 GW of commercial-scale battery storage systems across several projects largely in the south of the country.
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Octopus Energy’s generation arm has invested in the Walney Extension offshore wind farm in the UK. It is located in the Irish Sea off the coast of Barrow-in-Furness in the north west of England. Octopus has taken a 12.5 per cent stake in the 660 MW wind farm. The wind farm is made up of 87 turbines each taller than the 158 metres high Blackpool tower.
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Octopus Energy has launched its own smart heating system, which comprises more affordable heat pumps. The system will be accessible in December and will consist of the ‘Cosy 6’ heat pump, ‘Cosy Hub’, a home controls system, ‘Cosy Pods’ room sensors, and a smart tariff.
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Octopus Energy, a UK-based renewable energy company, has committed to invest in three wind farms in France with a total capacity of 49MW. Octopus made the investment as part of its plan to invest $1.09 billion in the French green energy industry between 2023 and 2025. The three wind farms, Croix Erable, Bertaut, and Le Langrois, will provide enough clean energy to power 30,000 French households. The projects will be located in the Vienne and Haute Marne regions of France and are currently under construction. They are anticipated to commence operations in 2023 and 2024.
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Octopus Energy, a UK-based energy retailer, intends to invest $1.07 billion over the following two years in France’s clean energy market. The investment was announced at the 36th Franco-British Summit in Paris, which was led by the UK Prime Minister and French President. The investment will help generate enough clean energy to power 300,000 households.
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Octopus Energy, a UK-based energy company, has increased its shareholding in the 270 MW Lincs offshore wind farm off the east coast of England. The fund management group of Octopus Energy Generation expanded its share in the project from 23.25 to 31.5 per cent by purchasing an additional 7.75 per cent of the 270 MW offshore facility. With this agreement, Octopus has invested $1 billion in offshore wind assets in less than a year.
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Octopus Energy Group, based in the UK, has signed a power purchase agreement (PPA) with Shell Energy Europe to purchase 2.4 TWh of wind energy per year from the Dogger Bank offshore wind farm. In accordance with the agreed-upon agreements, Octopus Energy will receive enough renewable energy from the 3.6 GW Dogger Bank project to power 800,000 of its client houses. Shell Energy Europe has a deal in place to offtake 20 per cent of the energy generated by Dogger Bank.
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Octopus Energy Generation, a British energy firm, has announced that it has acquired Zestec Renewable Energy, a solar developer and asset manager in the UK. Zestec has more than 160 MW of solar capacity in the country, which will be sold to the companies through power purchase agreements.
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The UK Government has authorised an agreement between Octopus Energy and Bulb in which Octopus will purchase 1.5 million of Bulb’s customers. After an extensive and competitive sale procedure, Bulb’s administrators completed the transaction.
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Octopus Energy Group, based in the UK, has joined the Italian green energy market through a partnership with Nexta Capital Partners, an Italian renewable developer. By establishing a joint venture, the two firms anticipate constructing 1.1 GW of new onshore wind, solar, and energy capacity in the southern Italian region by 2025.
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Octopus Energy Generation has agreed to acquire an additional 15.5 per cent stake in the Lincs offshore wind farm in the UK. In the 270 MW offshore project, the company’s Sky fund acquired a 7.75 per cent stake, while the Octopus Renewables Infrastructure Trust increased its share of the wind farm by investing an additional 7.75 per cent. Octopus purchased a 7.75 percent share in the wind farm earlier this year on behalf of ORIT.
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Octopus Energy Group, based in the UK, has purchased a 24 per cent stake in Exagen, a large-scale battery developer, through its new renewables fund, Octopus Energy Development Partnership (OEDP). OEDP is a €220 million renewables fund that will invest in Exagen to assist in the creation of large-scale solar and battery facilities in the UK.
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Octopus Energy Group, a UK-based renewable energy company, has announced a financial and strategic partnership with Xlinks, a company that is building an interconnector between Moroccan solar farms and the UK. Xlinks is laying four 3,800 km subsea cables for the Morocco-UK power project, which will connect a renewable energy facility in the Moroccan desert with Devon, UK.
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