Major UK energy company Octopus Energy plans to invest £2 billion in renewables before 2030.
Recent developments that have Octopus Energy on track to expand their green power stakes include growing their claim in solar and battery storage company Exagen from 24% to a full 100% acquisition.
Octopus also recently acquired four solar farms that are currently in development across England. The solar farms are expected to launch in 2025 and 2026. Together, they will generate sufficient power for 80,000 homes, resulting from a combined 222 megawatt capacity.
The solar farms will be located in Bristol, Essex, Wiltshire and East Riding of Yorkshire. The latter farm, more specifically in the town of Driffield, will also feature a 30-megawatt solar battery (i.e., a battery energy storage system or BESS).
According to a recent Octopus Energy press release, the company is currently backing a host of renewable energy projects, including:
- 138 Solar Farms
- 16 Onshore Wind Farms
- 3 Offshore Wind Farms
- Three Solar Battery Projects
- x1,000s British Rooftop Solar Projects
An Octopus Energy solar battery project in Cheshire is also under construction. The 12-megawatt battery will have the capacity to store enough energy to power almost 10,000 homes per day.