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Octopus Energy and Nexta to develop renewable assets in Italy

  • 11 months ago (2022-10-21)
  • David Flin
Europe 1023 Renewables 731 Solar 224 Wind 229

Octopus Energy Group has partnered with Nexta Capital Partners to create a joint venture to install 1.1 GW of new onshore wind and solar energy capacity in the south of Italy by 2025.

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Octopus Energy Development Partnership (OEDP), a €220 million fund launched by the Octopus Energy Group, will invest in the development of these new renewable assets. Nexta will use OEDP’s investment to obtain land and grid connections for the projects, along with planning permission.

Fabrizio Caputo, Managing Director of Nexta, said: “The partnership with Octopus represents a further step towards the consolidation of our growth objectives within the renewable energy industry. We aim to play a leading role with Octopus in the energy transition process.”

Zoisa North-Bond, CEO of Octopus Energy Generation, said: “Building more new green energy will help reduce reliance on imported fossil fuels and drive down energy bills. Onshore wind and solar are some of the cheapest forms of energy. To avoid a repeat of the energy crisis, it’s essential we turbocharge the creation of new renewable energy and shift to a low carbon energy system.”