Octopus Energy’s generation division has unveiled an ambitious plan to invest £2 billion ($1.3 billion) in clean energy initiatives across the UK by 2030. This significant investment comes as the British energy company finalizes a deal to develop four new solar farms in collaboration with BayWa r.e., located in Bristol, Essex, East Riding of Yorkshire, and Wiltshire.
These solar projects, boasting a total capacity of 222 MW, are expected to generate enough power to supply approximately 80,000 homes. Construction on three of the solar farms is slated to commence later this year, while the fourth is scheduled to begin in 2025. All four farms are anticipated to be operational by 2026.
In addition to the solar projects, Octopus is initiating work on a new 12 MW battery storage facility in Cheshire, which will have the capacity to power nearly 10,000 homes daily.
With these developments, Octopus Energy’s UK portfolio has expanded to include 16 onshore wind farms, three offshore wind farms, three battery projects, 138 solar farms, and numerous rooftop solar installations.
Zoisa North-Bond, CEO of Octopus Energy Generation, emphasized the importance of this investment, stating, “The UK is on the verge of a green energy revolution. This £2 billion investment in homegrown renewables will help boost our energy security and pave the way for a more affordable energy future. Solar and onshore wind are among the cheapest energy sources available. By building closer to demand, we can maximize green electricity when it’s abundant and lower bills for customers nationwide.”
Following recent government reforms in England regarding onshore wind planning, Octopus is also submitting several applications for new wind turbines this year, furthering its commitment to expanding renewable energy in the UK.
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