Octopus Energy has entered the US renewables market, outlining plans to invest $2 billion in renewable generation projects across the US by the end of 2030.

The UK’s biggest supplier of electricity has snapped up two solar farms from US renewable energy developer Vesper Energy, located in Pennsylvania and Ohio.

The farms have a combined capacity of 100 megawatts, enough clean energy to power 20,000 homes.

Octopus’s foray into the US renewables market follows its 2000 entry into the US energy market, when it launched its retail energy business in Texas, followed by an electric vehicles leasing arm.

Subscribe to Sustainability Beat for free

Sign up here to get the latest sustainability news sent straight to your inbox everyday

Octopus has also invested in floating offshore wind tech company Ocergy in the US.

Greg Jackson, founder and CEO of Octopus, heralded its first US renewables investment as a “major milestone”.

He said: “As we supercharge our renewables deals worldwide, we’re set to invest $2bn into the US clean tech market over the next few years.

“Green energy isn’t just the future, it’s the most cost-effective energy source here and now. The more we build, the faster we can power up a cheaper, greener energy system for everyone.”

Earlier this year, Octopus Energy  partnered with Black cab app Gett to bring electric vehicle (EV) charging to over 4,000 London taxis via Octopus Electroverse, a charging platform that is already integrated with most charge point brands in London.

Climate crisisEnergyInnovationNature and the environmentNet zeroSocial sustainability

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.



Sustainability Beat has stopped reporting on ESG business news.

While the site remains live, please be aware that some stories may be out of date.