Octopus Energy has unveiled an ambitious plan to invest £2 billion in renewable energy projects across the UK by 2030.
This significant investment aims to bolster the country’s clean energy capacity, focusing primarily on solar power and battery storage solutions.
The initiative includes the development of four new solar farms located in Bristol, Essex, East Riding of Yorkshire, and Wiltshire. These projects are expected to generate enough electricity to power approximately 80,000 homes and are slated to become operational between 2025 and 2026.
Notably, one of the solar sites will feature a 30MW battery storage system, enhancing the grid’s reliability and efficiency.
Christine McGregor, Managing Director of BayWa r.e. UK and Ireland, expressed enthusiasm about the collaboration, stating that the projects are set to commence construction soon, contributing significantly to the UK’s energy transition goals.
In addition to these solar initiatives, Octopus Energy has recently acquired Exagen, a solar and energy storage developer, further expanding its portfolio. Exagen’s pipeline includes over 2.4GW of solar and storage projects, which will now be accelerated under Octopus’s management.
Zoisa North-Bond, CEO of Octopus Energy Generation, emphasised the importance of this investment for enhancing energy security and affordability in the UK. She noted that solar and onshore wind are among the most cost-effective energy sources available today.
This strategic move aligns with the UK government’s broader objectives to achieve net-zero emissions and transition to a sustainable energy future. As Octopus Energy continues to expand its renewable energy footprint, it aims to play a pivotal role in shaping the country’s energy landscape.
