Octopus Energy has made its first investment in U.S. renewables, as it gears up its activities in the market with the target of investing $2 billion in generation assets by 2030.
The fully integrated global energy tech giant is kicking off its market entry with the acquisition of two new solar farms — one in Ohio and another in Pennsylvania. The projects have a combined capacity of 100 megawatts, enough clean energy to power 20,000 homes — equivalent to removing 36,000 gas-powered cars from roads.
This is the latest move in Octopus’ energy transition investment spree in North America. It follows its deals with floating offshore wind tech company, Ocergy, and nature projects startup Cultivo in the United States.
Octopus now manages a global solar power portfolio of 2 gigawatts. It also has a further 1.7 gigawatts of green energy projects such as onshore and offshore wind farms around the world, including in Europe and Australia, with projects in the pipelin
