Octopus Energy Group announces the acquisition of Octopus Renewables, the green generation experts.

5 months ago
Wind Turbine Octopus Renewables

Powered by our technology Kraken and a relentless focus to drive the smart grid technologies that’ll deliver cheaper green electricity to fuel our homes, businesses, cars and heating, I’ve been proud and excited to see our business grow and grow, as our whole-system approach to the green revolution increasingly becomes part of global conversations about the renewable revolution.

Now with over 2 million customers in the UK (3.6m accounts), operations in the UK, USA, Australia, New Zealand, Germany and Japan, and over 13 million accounts contracted globally onto our platform by other companies, I’m humbled and delighted to write now about the latest stage in our mission to deliver a cheaper, greener world of energy.

Today Octopus Energy Group announces the acquisition of our sister company Octopus Renewables (OR), a game changing opportunity to bring the retail and the generation side of energy together under one roof (well, assuming we at some point return to offices).

OR (to be renamed Octopus Energy Generation) are a specialist clean energy investor with a diverse portfolio of assets holding capacity of over 2.8GW. With more than 300 projects across six countries, OR are one of the largest commercial solar investors in Europe and a leading investor in onshore wind.

A virtual tour of Octopus Energy Generation sites

We entered the energy market in 2016 to offer energy that’s good for the planet, good for your wallet, and good for your soul. Driving the transition to green energy is key to that - we started our journey by offering 100% green electricity (and offset gas) in 2017.

Since then, we’ve doggedly added to our mix, spearheaded paying local communities for their generation with our joint venture with specialists Co-op Midcounties, and continued to unlock the power of the smart meter by matching cheap energy with times of abundant electrons - with innovative tariffs like Agile Octopus, Octopus Go, Octopus Outgoing and most recently the ‘Fan Club’ - the first tariff that gets cheaper as wind speeds up

But our ambitions go even further than that. To accelerate the global shift to renewable energy, we would like more control over renewable generation so we can take cheaper green electrons directly to our customers.

By directly operating a huge fleet of solar and wind generation, we’ll increasingly be able to use our big data and scalable technology to deliver cheaper electricity, sourced locally, when the wind’s blowing and the sun’s shining.

There’s an incredible talented team at Octopus Energy Generation and we are delighted to be working with them to transform the entire energy lifecycle, make every green electron matter, and deliver the green energy transition faster and cheaper for everyone.

To drive real global change in energy, we’re aiming to supply 100 million customers via our own brand and with our license partners.

Bringing the Octopus Renewables family - and its hugely talented team and investors - into the Octopus Energy fold will enable us to match the ambitions we have in energy retail and technology with similar ambitions to help drive global growth in renewable generation.

I’m so excited to get on with it.