Octopus Energy Group has formed a long-term strategic partnership with Canada Pension Plan Investment Board (CPP Investments) in an effort to bolster Octopus’s green-energy efforts.
CPP Investments will contribute an initial $300 million to the global partnership, and plans to increase the level of committed capital later.
Octopus Energy said the initial commitment and the broader partnership are expected to help grow Octopus's technology platform, Kraken, accelerating the transition of energy assets globally. It will also boost Octopus's smart-grid capabilities and help expand the company's green-energy generation.
Octopus has a goal of 100 million energy accounts on Kraken by 2027. Current estimates put Octopus on the path to double its global-generation portfolio, providing enough energy to power an additional 2 million homes by 2025.
“Octopus has pioneered the technology that allows citizens to benefit from cheaper energy as it gets greener,” sa
