Octopus Energy's generation arm has recently made investments in three new wind farms in France. These onshore wind farms, namely Croix Erable, Bertaut, and Le Langrois, have a collective capacity of 49MW. With these additions, the company's total wind farm count in the country will rise to 13, complementing the 10 existing ones already under its management.
In addition to wind farms, Octopus Energy also oversees the operation of 14 solar farms in France, with several more projects in the pipeline. The newly invested wind farms will be situated in the Vienne region in the west and the Haute Marne region in the north-east of the country.
Construction work has already commenced, and the wind farms are expected to become operational between 2023 and 2024. The Nordex turbines deployed at these sites will generate sufficient green energy to power approximately 30,000 households.
This investment initiative follows Octopus Energy Group's recent commitment to inject €1 billion into the French green energy market within the next two years. The company's objective is to produce enough local green energy to meet the needs of 300,000 households in France, while concurrently offering lower costs and improved customer service through its retail energy supply arm.
Alex Brierley, co-head of Octopus Energy Generation's fund management team, expressed enthusiasm for the renewable energy prospects in France, stating, “France is an absolutely fantastic place to build renewables, and we're dedicated to making further investments in both wind and solar farms in the country.” Brierley emphasized the critical juncture of France's transition to green energy and Octopus Energy's clear mission to expand green generation, thereby delivering more affordable and cleaner energy to a larger population in the future.
