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

  • 16 days ago (2023-03-14)
  • David Flin
Europe 996 Renewables 722

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.

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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 .