Octopus dives into US solar power market

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Octopus Energy, the UK’s largest electricity supplier, has marked its debut in the US renewables market with the acquisition of two solar farms.

This move is part of Octopus Energy’s ambitious plan to invest $2 billion (£1.5bn) in US renewable energy generation projects by 2030.

The acquired solar farms, located in Ohio and Pennsylvania, boast a combined capacity of 100MW, sufficient to power 20,000 homes.

Globally, Octopus manages a solar power portfolio of 2GW and has ongoing green energy projects in Europe, Australia and upcoming ventures in Asia and Africa.

Additionally, Octopus has extended its energy management platform, Kraken, into North America, collaborating with partners like Tenaska in Texas to enhance battery storage solutions.

Greg Jackson, Founder of Octopus Energy, said: “Our first US renewables investment is a major milestone for us. As we supercharge our renewables deals worldwide, we’re set to invest $2 billion (£1.5bn) into the US clean tech market over the next few years.

“Green energy isn’t just the future, it’s the most cost effective energy source here and now. The more we build, the faster we can power up a cheaper, greener energy system for everyone.”

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