Octopus Energy to invest €1 billion in French renewable energy market

• 1 year, 2 months ago (2023-03-14)
• David Flin

Europe 1061 Renewables 753

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Octopus Energy has announced it will invest €1 billion into France’s renewable energy sector over the next two years. It said that the investment will help generate enough renewable energy to supply 300 000 households.

Greg Jackson, founder and CEO of Octopus Energy, said: “Octopus operates across ten European countries and today, we’re delighted to announce a huge increase in our cooperations with France. We’re planning to invest an extra billion Euros in French generation – but we’re also going to make Paris our EU technology hub. This is testament to the mutual commitment to investing in a clean energy system and pioneering the digitisation that will drive costs down alongside carbon.”

In addition to the investment, Octopus Energy will launch a European tech hub in Paris through its subsidiary Kraken.

Octopus Energy entered the French energy market last year by acquiring energy supplier Plüm énergie .