Octopus Energy Generation and German renewables developer Energiequelle have teamed up to launch OQTO-X, a new joint venture aimed at cutting energy costs and emissions for businesses across Europe.
OQTO-X will support commercial and industrial businesses (C&I) across Germany, Austria, Poland and the Czech Republic by planning and installing solar panels and large-scale batteries, overseeing financing and helping them efficiently manage the generated energy. The business aims to invest €200 million ($233 million) by 2030 through Octopus’s landmark Sky fund.
Germany, home to energy-intensive sectors such as chemicals, metals and steel, is Octopus’s second-biggest market after the United Kingdom. This represents the company’s 10th investment in German renewables in three years and a major step toward its target of pouring €1 billion ($1.2 billion) into the country’s Energiewende (Germany’s “energy turnaround”). Octopus manages more than 3.3 gigawa
