Octopus Energy’s generation arm has invested in three new wind farms in France, for an undisclosed amount.
Octopus Energy Generation - which manages £6bn (€6.8bn) worth of renewable assets and energy transition projects globally - acquired these latest three wind farms on behalf of the Sky fund.
The three onshore wind farms - Croix Erable, Bertaut, and Le Langrois - have a combined capacity of 49MW and will be added to the 10 existing wind farms the company already manages in the country, bringing its total to 13. The company also manages 14 French solar farms and has numerous further projects in the pipeline.
The wind farms will be located in the Vienne region in the west and Haute Marne region in the northeast of the country. Construction has already started and all three projects will become operational throughout 2023 and 2024.
This investment follows hot on the heels of Octopus Energy’s commitment to invest €1bn in the French green energy market in the next two years. Octopus is aiming to generate enough local green power for 300,000 French households, while bringing lower costs and better customer service through its retail energy supply arm.
Vincent Maillard, CEO of Octopus Energy in France, made the announcement at the Choose France summit, ”recognising the essential role Octopus is playing in France’s shift to renewable energy”.
He added: ”Green energy generated from wind farms like these will help unlock a more affordable and secure energy system for French customers.”
Alex Brierley, co-head of Octopus Energy Generation’s fund management team, said: “France is an absolutely fantastic place to build renewables and we’re committed to investing in lots more wind and solar farms in the country.
”France’s green energy transition is at a pivotal point, and we’ve got a clear mission: let’s continue to build more green generation to get cheaper, cleaner energy to even more people in the future.”
Octopus Energy first entered the French market in January 2022 after acquiring French energy supplier Plüm énergie.
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