Octopus Energy’s generation arm has announced investments in two renewable-energy developers in Ireland and Portugal.
This will enable the companies to build more than 100 new solar projects on rooftops and sites of businesses, creating 250 megawatts of solar power while reducing reliance on fossil fuels and boosting energy security.
In Ireland, Octopus has taken a majority stake in Verde Energy Group, which installs energy-efficiency solutions for a range of organizations — from local councils to large corporations. Verde Energy will use the investment to develop more than 50 solar projects in Ireland by 2027, totaling 100 megawatts of new solar energy.
It comes as Octopus continues to scale its activity in Ireland, with investments in one of the country’s largest solar farms, as well as onshore and floating offshore-wind developments. Ireland has ambitious green targets, aiming for 80 percent of electricity to come from renewables by 2030, including a 8-