Octopus Energy's generation arm is accelerating its green energy efforts in France, securing four new deals in solar and wind energy projects. These agreements are part of the company's broader €1 billion investment plan for the French renewable energy market.
France has become Octopus' largest clean energy market in continental Europe, and the new projects reflect its growing commitment to the country's renewable energy sector. As part of its strategy, Octopus has expanded FFNEV, a renewables developer it supports in Spain, Portugal, and Romania, into France. The move, made on behalf of the Octopus Energy Development Partnership (OEDP), aims to deliver 500MW of new solar capacity by 2030, with a focus on agrivoltaics, alongside 100MW of energy storage.
The solar projects will span regions including Grand Est, Nord, Pays de la Loire, Nouvelle Aquitaine, and Occitanie, with an expected capacity to power around 110,000 homes by 2030.
Additionally, Octopus Energy acquired two newly operational solar farms from BayWa r.e., located in the Indre region in central France and Charente Maritime in the south-west. With a combined capacity of 80MW, the two 40MW solar farms are situated on former military bases and are designed to support sheep farming, in line with agrivoltaic principles.
These acquisitions build on Octopus' earlier purchase of agrivoltaics developer OX2 France earlier this year.
On the wind energy front, Octopus has also acquired the 35MW Vallee 1 wind farm in the Aisne region from Enertrag. This wind farm is expected to begin operations by the end of 2024. Additionally, the company secured the 20MW Terrier de la Pointe wind farm in Nouvelle-Aquitaine from Q Energy. Both wind farms were acquired on behalf of the Sky Fund (ORI SCSp).
Zoisa North-Bond, CEO of Octopus Energy Generation, said, “France has incredible potential to become a renewable energy powerhouse. We're always looking at how we can create a cleaner and cheaper energy system for everyone. With these latest investments, we're scaling cutting-edge agri-solar to wind farms delivering home-grown clean power to power 150,000 homes.
