Octopus Energy is investing in two photovoltaic farms in the United States

Octopus Energy has made a significant acquisition entering the US renewable energy market. The company acquired two photovoltaic farms located in Ohio and Pennsylvania with a total capacity of 100 MW. The photovoltaic farms will provide clean energy to approximately 20,000 homes. This investment marks the beginning of Octopus Energy’s goal of committing $2 billion to renewable energy projects in the United States by 2030. This strategy aims to strengthen the company’s presence in the North American market and diversify its energy portfolio.

Expansion in North America

In addition to entering the U.S. solar farm market, Octopus Energy is expanding its Kraken technology platform in North America. Kraken is already being deployed at Tenaska in Texas to optimize battery storage and at Saint John Energy in Canada. Octopus Energy’s global portfolio currently includes 2 GW of solar projects and 1.7 GW of green energy projects worldwide, including onshore and offshore wind farms. New projects planned in Asia and Africa confirm the company’s international reach.

Investor support

Octopus Energy has financial backing from several major international climate investors. These include Generation Investment Management, Canada Pension Plan Investment Board (CPP Investments) and Galvanize Climate Solutions. These financial partnerships strengthen Octopus’ ability to realize its ambitions in the renewable energy sector. Greg Jackson, founder of Octopus Energy, emphasized the importance of this initial investment in the United States as a major step in the company’s global expansion. This investment is part of Octopus’ long-term development strategy in the renewable energy sector.

Constant development

Since entering the U.S. market in 2020, Octopus Energy has launched several initiatives, including retail energy sales in Houston, Texas, and an electric vehicle leasing program. These initiatives are part of the company’s overall strategy to offer differentiated and innovative energy solutions in the North American market. By integrating photovoltaic projects and developing technology partnerships, Octopus Energy continues to strengthen its position in the renewable energy sector. The company is positioning itself for significant growth through strategic investments and key collaborations in the coming years.