Octopus Energy makes solar debut in Germany
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
Octopus Energy’s generation arm makes its first two investments in Germany’s solar market, as it ramps up green energy activity in the country to propel the clean energy transition.
Octopus has bought the 122 MW Schiebsdorf solar farm in Brandenburg, the largest in the company’s ever-growing renewables portfolio in Europe. The site is currently under construction, targeting completion later this year.
The company has also acquired the 20.8 MW Hartungshof solar farm in the vicinity of Saarbrücken in Saarland, which has been operational since March 2023.
Combined the two solar farms will make a significant contribution to slashing carbon emissions in Germany. They will generate clean energy to power the equivalent of 55 000 German homes a year, or the same as removing 48 000 petrol cars from the road a year.
The solar farms were acquired by the Sky (ORI SCsp) fund which is managed by Octopus Energy Generation.
The deals mark the next step in Octopus’ plan to channel more than €1 billion of investment into green energy infrastructure in Germany by 2027, helping the German Government reach its goal of 80% of electricity from renewables by 2030.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “These investments are not only our first move into solar in Germany, but Schiebsdorf will also become the largest solar farm in our European generation portfolio,” said Zoisa North-Bond, CEO of Octopus Energy Generation. “Solar farms like these are bringing cheaper, greener energy to more people. And we’re geared up to rapidly scale our renewables investments in the coming years to further amplify Germany’s green energy revolution.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2023 issue
The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.
Read the article online at: https://www.energyglobal.com/solar/23012024/octopus-energy-makes-solar-debut-in-germany/
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