It is the first time Octopus Energy has collaborated with a major utility to produce renewable power generation. The two companies have agreed to explore potential opportunities to generate clean, green energy at Severn Trent sites and other third-party locations throughout the region.
The collaboration agreement will support Severn Trent’s triple carbon pledge of reaching net zero carbon emissions using 100 per cent renewable energy and transitioning to a fleet of vehicles that are entirely electric by 2030.
Octopus Energy Group has already worked with a number of high-profile companies to help them produce their own renewable energy and drastically drive down their emissions to meet net zero targets. In the Severn Trent region itself, Octopus Energy Group has been able to supply businesses in Leicester and Warwick with cheaper locally-sourced renewable energy and to provide the energy for iconic venues such as the National Space Centre and the Richard III Visitor Centre.
“This is an exciting new partnership which has the potential to revolutionise the way we generate renewable energy across our sites” said Liv Garfield, Severn Trent Chief Executive. “We’re looking forward to working with Octopus Energy and benefiting from their expertise and experience, marking a major step forward on our journey to net zero. Signing this agreement couldn’t come at a better time, as we continue to emerge from the pandemic and help the country to build back greener and cleaner.”
Zoisa North-Bond, CEO of Octopus Energy Generation, the arm of Octopus Energy Group which will manage the partnership, added that Severn Trent is one of the most important and vital companies in the Midlands, and that Octopus Energy is delighted to be working with them to create even more value for the people of the region in the form of renewable energy.
“As net zero commitments are becoming increasingly important in the fight against climate change, we’re hoping more large scale utilities like Severn Trent see the value in using their land to drive the green energy revolution” said Ms North-Bond. “By being actively involved in their own energy supply chain, they are starting an exciting journey to becoming carbon neutral that will help make the Midlands cleaner and better for generations to come.”
In May, Severn Trent revealed plans to invest £565 million over the next four years to help the environment and improve infrastructure across the Midlands, as well as to create 2,500 new jobs as part of an ambitious Green Recovery programme.
It also announced earlier in the year that it has joined forces with Birmingham 2022 to help deliver the first ever carbon-neutral Commonwealth Games, where it will be responsible for delivering a series of initiatives that help offset the carbon generated by the Commonwealth Games and hopes to leave a positive social and environmental legacy of sustainability in the West Midlands.
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