Albacete solar farm. Image courtesy Octopus Energy
Octopus Energy is investing in three projects in Spain: two solar farms in Navarre and Albacete, capable of generating a combined 100MW, as well as a battery storage project targeting 500MW of capacity over the next five years.
The investment was announced at the Government’s UK-Spain Trade and Investment Roundtable, with the investments made through Octopus Energy Generation’s £2 billion ($2.7 billion) ‘Sky’ fund (ORI SCSp).
Octopus entered the Spanish market three years ago, and since then grown its retail business to become the country’s fastest-growing independent energy supplier with over 350,000 customers, says the company in a release.
Octopus also recently invested in OneSolar, a Barcelona-based energy advisory firm aiming to help businesses build and run solar and battery projects more efficiently.
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Commenting in a release was Zoisa North-Bond, CEO of Octopus Energy Generation: “Spain’s appetite for the energy transition is truly remarkable.
“Following closely in the footsteps of the market disruption we led in the UK, Octopus Spain is unlocking the full potential of the country’s abundant clean energy – from cutting-edge battery storage and solar farms to cheaper electricity for households and businesses.
“Every project we deliver adds more green power to the system and brings smarter, more sustainable energy solutions to communities across Spain. And it’s been incredible to see the progress we’ve already helped achieve.”
Building on its success in the UK, Octopus is also rolling out its smart EV charging tariff, Intelligent Octopus Go, across Spanish homes, numbering more than 7,000 solar panel and EV charger installations.
These investments are the latest additions to Octopus Energy Generation’s growing portfolio in Europe, already managing more than 4.9 GW of clean energy projects globally.
Originally published on Power Engineering International.
