Octopus Energy to put £2bn into green energy.

Monday 30 September 2024

Octopus Energy Generation, the powerhouse behind one of the UK’s leading clean energy initiatives, has exciting news for eco-conscious consumers and renewable energy enthusiasts. The company has announced its ambitious plans to inject a staggering £2 billion into a series of cutting-edge clean energy projects across the UK by the year 2030.

In a significant step towards achieving this goal, Octopus Energy Generation has finalised agreements for the development of four state-of-the-art solar farms in key locations, including Bristol, Essex, the East Riding of Yorkshire, and Wiltshire. These solar farms, collectively boasting a capacity of 222 MW, will be complemented by the installation of a 30 MW battery at one of the sites, enhancing efficiency and storage capabilities.

Commencing later this year, construction is set to kick off on three of the solar farms, with the fourth farm scheduled to begin operations in 2025. With an anticipated completion timeline spanning from 2025 to 2026, these farms are projected to generate sufficient electricity to power an impressive 80,000 homes, resulting in a drastic reduction of emissions equivalent to removing 35,000 fossil-fuel cars from the road annually.

Not stopping there, Octopus Energy Generation is also investing in the establishment of a cutting-edge 12 MW battery facility in Cheshire. This facility will have the capacity to store and redistribute enough power to sustain nearly 10,000 households every day, contributing to a more sustainable and reliable energy grid for the region.

These strategic initiatives form part of Octopus Energy Generation’s overarching commitment to allocate £2 billion towards the development of innovative clean energy projects by the end of the decade, facilitating a greener and more energy-efficient future for the UK.

Expressing her enthusiasm for the transformational impact of these investments, Zoisa North-Bond, Chief Executive Officer of Octopus Energy Generation, remarked, ‘The UK stands on the cusp of a monumental green energy revolution. This substantial £2 billion investment in domestically sourced renewables will play a pivotal role in enhancing our energy security and charting a path towards a more affordable energy landscape.’

‘Solar and onshore wind stand out as some of the most cost-effective energy sources available. By positioning our infrastructure closer to areas of demand, we can harness green electricity during peak periods and drive down costs for consumers nationwide,’ added North-Bond.

With the recent addition of these groundbreaking projects, Octopus Energy now bolsters its portfolio with support for 16 onshore wind farms, 3 offshore wind farms, 3 battery initiatives, 138 solar farms, and numerous rooftop solar installations spread across the British landscape.

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