Octopus Energy’s generation arm, through its Sky fund (ORI SCSp), has acquired renewables developer OX2 France in its largest deal in the country.
ORI SCSp purchased the developer from OX2 AB.
OX2 France has 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 will generate close to 500MW of capacity in France by 2031 — more than doubling its current capacity.
Octopus is keen to ramp up its green energy activities in France — its largest green generation market in continental Europe. It has plans to channel over €1bn into the country’s clean energy infrastructure by the end of 2025, with multiple deals in the pipeline.
It was recently selected by the French government to take part in the country’s upcoming offshore wind tender – another first for the company.
This latest deal follows Octopus Energy’s acquisition of Sungen 10, a portfolio of more than 100 rooftop solar projects on top of French farms, that is working with local partners to develop even more rooftop solar installations over the next few years.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “France is a shining market for us as we continue to scale renewable energy across Europe. OX2 France has been leading the way in agrivoltaics, proving that solar power and agriculture can thrive together for a cleaner future.
“By joining forces, we are one step closer to creating more sustainable energy solutions for millions of people in France and beyond.”
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