Octopus Energy’s generation arm has executed its largest deal in France to date with the acquisition of agrivoltaics developer OX2 France from OX2 AB. Financial terms were not disclosed.
OX2 France is a trailblazer in agrivoltaics, combining solar energy generation with agriculture to maximize land use and boost biodiversity. The acquisition includes OX2 France’s entire team, adding invaluable expertise with a successful track record of developing projects.
Octopus plans to invest €1 billion ($1.03 billion) in France’s clean energy infrastructure, with a pipeline of 21 projects in the works across Nouvelle-Aquitaine, Centre-Val de Loire and Auvergne-Rhône-Alpes. If all projects in the current pipeline get built, the investment targets to develop nearly 500 megawatts of capacity in France by 2031, which would more than double its current capacity.
Expanding its foothold in the French market, Octopus also was selected recently by the French government to