Octopus Energy Generation to Invest £2bn in UK Clean Energy Projects by 2030

Image Credit: Octopus Energy

Octopus Energy Generation has unveiled ambitious plans to inject £2bn into UK-based clean energy initiatives by 2030, signaling a significant boost to the nation's renewable energy landscape.

This announcement follows recent agreements to develop four solar farms in partnership with BayWa r.e., located in Bristol, Essex, the East Riding of Yorkshire, and Wiltshire. These farms will have a combined capacity of 222MW and a 30MW battery storage system at one of the sites. Construction on three of the solar farms is slated to begin later this year, with the fourth starting in 2025. Once operational between 2025 and 2026, these sites are projected to supply enough electricity to power 80,000 homes while offsetting emissions equal to taking 35,000 cars off the road annually.

In addition, Octopus plans to break ground on a new 12MW battery project in Cheshire. This project will have the capacity to store energy for nearly 10,000 homes daily, further enhancing the company's green infrastructure.

These new ventures bring Octopus Energy's UK clean energy portfolio to an impressive total. It now includes 16 onshore wind farms, three offshore wind projects, three battery schemes, 138 solar farms, and thousands of rooftop solar installations.

Across Europe, Octopus manages 3.8GW of green energy projects in more than 15 countries, representing a combined value of £7bn. These projects generate enough renewable electricity to power 2.3 million homes annually—equivalent to removing over a million petrol cars from the roads.

Octopus is preparing to capitalize on the recent lifting of England's 'de facto ban' on new onshore wind developments. The company plans to submit applications for several new wind turbines this year as part of its 'Fan Club' initiative, which offers local residents discounted energy rates during peak wind generation times.

"The UK is on the verge of a green energy revolution," said Zoisa North-Bond, CEO of Octopus Energy Generation. "This £2bn 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," she added. "By building closer to demand, we can maximise green electricity when it's abundant and lower bills for customers nationwide."