- Accelerating Europe’s wind power revolution with seven new wind farms
- Octopus is targeting 20 GW of clean energy generation projects in Europe by 2030, enough power for 15 million homes
- Comes as European Union outlines ambitions to more than double Europe’s wind capacity, as a key part of Europe’s energy security
According to the company’s website press release on April 21, 2023, Octopus Energy’s generation arm - who manage £6bn of renewable assets and energy translation projects globally - has successfully opened seven new onshore wind farms across Europe since 2022.
These new wind farms with a combined capacity of 250 MW are located in the UK, Germany, Sweden, France and Poland. They’re the latest renewables projects where Octopus Energy Generation has managed construction.
Combined they generate enough green energy every year to power around 250,000 homes, or make 22 billion cups of tea. They avoid around 270,000 tonnes of carbon emissions - the same as planting 1.3 million trees or removing 150,000 petrol cars from the road every year.
Octopus Energy Generation manages 3.2 GW of renewables. And by 2030, the company is targeting 20 GW of European green generation projects, enough power for 15 million homes, boosting the continent’s energy security and reducing consumers’ bills.
Onshore wind is a key part of Europe’s energy security strategy, as the European Union recently outlined its ambitions to more than double Europe’s wind capacity.
This also comes as Octopus gears up to take its innovative world-first ‘Fan Club’ model global, to provide people with cheaper energy when it’s windy.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “It’s brilliant to see this flurry of wind farms we’ve built across Europe start generating clean power - and we’ve got big plans to invest in lots more.
“New green energy is absolutely essential to accelerate our shift to a renewables-first economy and wean ourselves off expensive fossil fuels. To make sure this energy crisis is the very last one, we can build our way out through cheap green power.”
The 7 onshore wind energy farms that Octopus Energy has brought online since 2022:
- Scotland, UK: The 50 MW Cumberhead wind farm is managed by Octopus on behalf of Octopus Renewables Infrastructure Trust (ORIT). All 12 wind turbines were completed in March 2023. There is a Power Purchase Agreement (PPA) in place with Kimberly-Clark, the manufacturer of well-loved household products Andrex®, Kleenex® and Huggies®, to supply around 80% of their UK electrical power needs.
- Germany: Octopus acquired the 22.4 MW Biebelnheim-Gabsheim wind farm located in Wörrstadt near Frankfurt last year from renewables developer JUWI and wiwi consult, on behalf of the Sky fund (ORI SCSp), which is now generating. Its 4 turbines are 241m tall, higher than London’s Gherkin building or Cologne’s Cathedral.
- France: The Berceronne 9 MW wind farm became operational in July 2022, and the Cerisou 24 MW wind farm, which Octopus manages on behalf of ORIT, became operational in November 2022.
- Sweden: Octopus Energy Generation has a 49% stake in the 86 MW Rodene wind farm, which is now generating. There’s a PPA in place to export the energy to France-based Faurecia, a company of FORVIA Group, the world’s 7th largest automotive tech company.
- Poland: The Krzecin 19 MW wind farm and the Kuslin 40 MW wind farm are both managed by Octopus on behalf of ORIT. Krezcin completed in February 2022 and Kuslin in at the end of 2022.
Notes to editors:
Octopus Energy Group
Amy Boekstein
PR Manager
+44 (0)20 4530 8369
About Octopus Energy Generation
Octopus Energy Generation is driving the renewable energy agenda and building green power for the future. This means reshaping the market by leading the transition to a cleaner, greener future through renewable projects connected more deeply to customers and businesses.
As one of Europe’s largest investors in renewable energy, its fund management specialist team launched in 2010 with a mission to accelerate the transition to a future powered by renewable energy. This team manages 3.2 GW of renewable energy assets like wind and solar farms across 13 countries, worth £6bn. These renewable projects generate enough green energy to power 2 million homes every year, and is the equivalent of taking over 1 million petrol cars off the road. The business also launched the Fan Club in the UK 2021, the world's first local energy tariff that provides cheaper, greener energy to customers living near local wind turbines when the wind blows, with a discount of up to 50%. Thousands of people have got in touch asking for the Fan Club in their community.
For more information, check out website.
About Octopus Energy Group
Octopus Energy Group is a global energy tech pioneer, launched in 2016 to use technology to unlock a customer focused and affordable green energy revolution. With operations in 14 countries, Octopus Energy Group has a truly global reach.
Octopus’s domestic energy arm already serves 5.3 million customers globally with cheaper greener power, through Octopus Energy, Bulb, Affect Energy, Ebico, London Power and Co-op Energy. Octopus Electric Vehicles is helping make clean transport cheaper and easier, and Octopus Energy Services is bringing smart products to thousands of homes. Octopus Energy Generation is one of Europe’s largest investors in renewable energy, managing a nearly £6 billion portfolio of renewable energy assets across the globe.
All of these are made possible by Octopus’s tech arm, Kraken Technologies, which offers a proprietary, in-house platform based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralised, decarbonised energy system. This technology has been licensed to support 30 million customer accounts worldwide, through deals with EDF Energy, Good Energy, E.ON energy and Origin Energy.
In December 2021, Octopus Energy Group was valued at approximately $5 billion following investments from Generation Investment Management and Canada Pensions Plan Investments Board. Both investors back businesses that drive sustainability, promote green energy and tackle climate change. These were the company’s third and fourth major investments since launching to the market.
For more information, check out website.
