Octopus Energy, a global energy and technology group, has committed to invest £1.5 billion ($1.9 billion) in the Asia Pacific energy market by 2027.
Octopus Energy plans to invest £1.2 billion ($1.5 billion) into solar and wind generation, with half of the capital going into Japanese renewables. The company is slating the remaining £300 million ($373 million) to expand its tech innovation and energy retail hub in Tokyo, which has played a major role in developing cutting-edge features for Octopus’ tech platform, Kraken.
With nearly 200,000 retail customers, Japan is now Octopus’ second largest market after the United Kingdom. The Tokyo expansion will enable the business to increase its headcount tenfold by 2027, creating 1,000 green jobs.
The move builds on Octopus’ successful partnership with Japanese energy giant Tokyo Gas. Leveraging this strategic partnership, Octopus’ generation team seeks to raise £400 million ($498 million) from Asia Pacific i