The energy giant has sealed deals on four new solar farms and broken ground on a battery storage project, aiming to power tens of thousands of homes and contribute to Britain’s green energy revolution.
New solar and battery projects
The newly acquired solar farms, located in Bristol, Essex, East Riding of Yorkshire, and Wiltshire, will have a combined capacity of 222 MW. A 30 MW battery will be built on one of the sites, capable of storing power for use during peak demand times.
Construction on three of the solar farms will begin later this year, with the fourth starting in 2025, and they are expected to generate enough energy to power 80,000 homes by 2026.
Octopus Energy’s commitment to renewables now includes 16 onshore wind farms, 3 offshore wind farms, 3 battery projects, 138 solar farms, and thousands of rooftop solar projects across the UK.
Through its Octopus Energy Development Partnership (OEDP) fund, the company has also increased its stake in Exagen, a British solar and storage developer, to 100%.
Leading the charge in renewables
Octopus is fast-tracking multiple onshore wind projects, submitting applications following recent planning reforms. These turbines will join the company’s innovative ‘Fan Club’ scheme, offering nearby customers up to 50% off their energy bills when the wind is blowing.
Zoisa North-Bond, CEO of Octopus Energy Generation, commented: “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 maximise green electricity when it’s abundant and lower bills for customers nationwide.”
Image: Octopus